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5 Aug 2014
EUR/JPY threatens territory on 136 handle
FXStreet (Guatemala) - EUR/JPY is trading at 137.18, down -0.35% on the day, having posted a daily high at 137.75 and low at 137.07.
EUR/JPY has been very decisive in its decent from the 138 handle from Fridays business and is extending this towards price on the 136 handle. Valeria Bednarik, chief analyst at FXStreet explained that the hourly chart now showing price below its moving averages, momentum maintaining a strong bearish slope and RSI flirting with oversold levels. “In the 4 hours chart technical readings are also biased lower, accelerating in negative territory, which exposes the pair to a continued slide through 137.00 area”.
EUR/JPY Levels
With spot trading at 137.18, we can see next resistance ahead at 137.28 (Hourly 200 SMA), 137.45 (Hourly 20 EMA), 137.49 (Weekly Classic PP) 137.90 and 138.40. Support below can be found at 137.16 (Daily Classic S2), 137.07, 136.90, 136.60 and 136.20.
EUR/JPY has been very decisive in its decent from the 138 handle from Fridays business and is extending this towards price on the 136 handle. Valeria Bednarik, chief analyst at FXStreet explained that the hourly chart now showing price below its moving averages, momentum maintaining a strong bearish slope and RSI flirting with oversold levels. “In the 4 hours chart technical readings are also biased lower, accelerating in negative territory, which exposes the pair to a continued slide through 137.00 area”.
EUR/JPY Levels
With spot trading at 137.18, we can see next resistance ahead at 137.28 (Hourly 200 SMA), 137.45 (Hourly 20 EMA), 137.49 (Weekly Classic PP) 137.90 and 138.40. Support below can be found at 137.16 (Daily Classic S2), 137.07, 136.90, 136.60 and 136.20.