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EUR/JPY: headed to 137.00? - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 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 closed the day with some limited gains, as the JPY strengthened during the American session, on a flip in market's sentiment towards risk aversion.

    Key Quotes:

    "The pair however, remained in a tight range and the daily chart shows that it holds above the 100 DMA, currently around 136.05, the immediate support.

    In the 4 hours chart, however, the Momentum indicator points to resume its advance after correcting overbought readings, whilst the RSI indicator holds around 62, suggesting the pair may recover towards the 137.00 region."
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