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EUR/JPY still well below daily MA's - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  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 fell to a daily low of 126.15 following the ECB's head statement.

    Key Quotes:

    "But the recovery of the common currency alongside with yen intraday weakness sent it back above the 127.00, barely trading in positive territory. The longer term outlook maintains the bearish tone alive, given that the pair has set a lower low and a lower high daily basis, while trading well below its moving averages, suggesting this recovery may well be temporal.

    In the 4 hours chart, the technical indicators lack clear directional strength, having turned slightly higher within bearish territory, while the price remains far below its moving averages."
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