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EUR/JPY: lacking direction on minor daily recovery - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 16, 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 ends the day around the 133.00 level for one more day, having however, managed to post a higher high and a higher low daily basis, the first sign of a possible recovery in nearly two weeks.

    Key Quotes:

    "The pair however, continues trading below a bearish 100 DMA now around 134.00 and a bullish breakout point. Shorter term the 1 hour chart shows that the technical indicators head lower below their mid-lines, whilst the price is also developing below a bearish 100 SMA.

    In the 4 hours chart, the price is holding above its 100 and 200 SMAs, both converging around 132.00, while the technical indicators lack directional strength, stuck around their mid-lines."
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