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EUR/JPY: Break above BOJ high exposes 134.10 - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, notes that EUR/JPY is at a key area, noting that a new leg higher through 132.25/30 recent highs may expose 134.10.

    Key Quotes

    "The pair is at a critical level according to the daily, as the price is pressuring its 100 DMA, first time around it since mid December."

    "A steady recovery above the level can signal a midterm upward continuation towards the 200 DMA currently at 134.10."

    "Shorter term, the 1 hour chart shows that the price has moved slowly higher, leaving indicators flat within positive territory, but well above the 100 and 200 SMAs, with the shortest now around 130.10."

    "In the 4 hours chart, the technical indicators are pulling slightly lower from overbought territory, but are far from suggesting a bearish move, as the price holds near its daily high of 131.99."
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