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31 Mar 2015
EUR/JPY needs to extend above 130.35 - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, EUR/JPY needs to extend above 130.35 to expose 131.20 price zone.
Key Quotes
EUR/JPY failed to regain the 130.00 level, despite several intraday attempts. In the short term, the 1 hour chart shows that the price remains limited below its 200 SMA, with the 100 SMA offering additional resistance in the 130.35 price zone, the immediate resistance level.
In the same chart, the technical indicators stand directionless above their mid-lines, offering little clues on what's next for the pair.
In the 4 hours chart, the price is right above a bearish 100 SMA, whilst the Momentum indicator aims higher and is about to cross its mid-line, while the RSI stands flat around 49, limiting the upward potential at the time being.
Key Quotes
EUR/JPY failed to regain the 130.00 level, despite several intraday attempts. In the short term, the 1 hour chart shows that the price remains limited below its 200 SMA, with the 100 SMA offering additional resistance in the 130.35 price zone, the immediate resistance level.
In the same chart, the technical indicators stand directionless above their mid-lines, offering little clues on what's next for the pair.
In the 4 hours chart, the price is right above a bearish 100 SMA, whilst the Momentum indicator aims higher and is about to cross its mid-line, while the RSI stands flat around 49, limiting the upward potential at the time being.