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EUR/JPY: consolidates bearish phase

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - EUR/JPY spot at time of writing is 131.61 with a high of 131.92 and a low of 131.44.

    EUR/JPY is currently trading in a sideways drift better offered with the Yen tracking stocks and risk with the price suppressed by the descending 200 SMA on the hourly time frames at 132.00 today. This price action is within the counter recovery by the bears from the downtrend of above 134.40 earlier in the month.

    EUR/JPY levels

    Technically, chief analyst at Commerzbank explained that EUR/JPY was rejected by the 4 month resistance line at 134.13 attention reverts to 129.67/28 zone retargeted (recent low and Fibo).
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