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EUR/JPY: buyers lurking at 133.30 - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY pair traded lower in range this Monday, in line with the EUR/USD behavior. The pair entered a consolidative stage ever since reaching its 100 DMA for the first time in over a month following the latest ECB's economic policy decision, currently at 134.25, with buyers aligner around 133.30, a strong long term static support.

    Key Quotes:

    "The short term technical picture is neutral-to-bullish, with the pair holding well above its 100 and 200 SMAs, and the technical indicators aiming higher around their mid-lines, lacking, however, momentum at the time being.

    In the 4 hours chart, the RSI indicator resumed its advance around 65 after correcting the extreme overbought readings reached last week, while the 100 SMA is slowly advancing below the 200 SMA, both well below the current level, still playing catching up with the latest will advance."
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