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26 Jan 2015
EUR/JPY: In no aims to turn bearish direction - FXStreet
FXStreet (Bali) - EUR/JPY seems in no aims to turn its prevailing bearish direction, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The EUR/JPY tests last week lows around 130.90 at the opening, with the pair also gapping lower on Euro weakness."
"The pair has lost around 650 pips during these last two days, and seems in no aims to turn direction as the 1 hour chart shows that the price is developing well below its moving averages, whilst indicators turned back south after a limited upward correction."
"In the 4 hours chart technical indicators present a strong downward momentum despite in extreme oversold levels, whilst moving averages gain bearish slope well above the current price."
Key Quotes
"The EUR/JPY tests last week lows around 130.90 at the opening, with the pair also gapping lower on Euro weakness."
"The pair has lost around 650 pips during these last two days, and seems in no aims to turn direction as the 1 hour chart shows that the price is developing well below its moving averages, whilst indicators turned back south after a limited upward correction."
"In the 4 hours chart technical indicators present a strong downward momentum despite in extreme oversold levels, whilst moving averages gain bearish slope well above the current price."