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Trading news
17 Apr 2015
EUR/JP to advance further while above 128.10 - FXStreet
FXStreet (Bali) - EUR/JPY looks poised to advance further as long as 128.10 contains the downside, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The EUR/JPY cross surged up to 128.54 by the US close, as dollar weakness alongside with EUR's recovery pushed it to a fresh weekly high."
"Technically, the 1 hour chart shows that the price struggles around its 200 SMA whilst the technical indicators are beginning to look exhausted near overbought levels."
"In the 4 hours chart however, the technical indicators maintain a strong upward momentum, with the 100 SMA heading lower around 129.00."
"The pair is positioned to extend its advance as long as 128.10 contains the downside, with a break above 129.00 signaling a probable test of the 130.00 level."
Key Quotes
"The EUR/JPY cross surged up to 128.54 by the US close, as dollar weakness alongside with EUR's recovery pushed it to a fresh weekly high."
"Technically, the 1 hour chart shows that the price struggles around its 200 SMA whilst the technical indicators are beginning to look exhausted near overbought levels."
"In the 4 hours chart however, the technical indicators maintain a strong upward momentum, with the 100 SMA heading lower around 129.00."
"The pair is positioned to extend its advance as long as 128.10 contains the downside, with a break above 129.00 signaling a probable test of the 130.00 level."