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15 May 2015
EUR/JPY: Technicals support further rally - FXStreet
FXStreet (Bali) - Technical studies in EUR/JPY remain bullish bouncing from their mid-lines, supporting a further recovery, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The EUR/JPY cross has skyrocketed to a fresh 3-month high of 136.41, once again backed by EUR demand. Same take profit in EUR pair has sent the pair down to 135.30 during the American afternoon."
"The 1 hour chart shows that the price stands well above its 100 and 200 SMAs, both converging in the 134.60 price zone, whilst the technical indicator are bouncing from their mid-lines, supporting a short term recovery."
"In the 4 hours chart, the Momentum indicator has retreated from its high, but remains in positive territory, whilst the RSI has turned slightly higher around 60, supporting the shorter term view, should the price recover the 136.00 level."
Key Quotes
"The EUR/JPY cross has skyrocketed to a fresh 3-month high of 136.41, once again backed by EUR demand. Same take profit in EUR pair has sent the pair down to 135.30 during the American afternoon."
"The 1 hour chart shows that the price stands well above its 100 and 200 SMAs, both converging in the 134.60 price zone, whilst the technical indicator are bouncing from their mid-lines, supporting a short term recovery."
"In the 4 hours chart, the Momentum indicator has retreated from its high, but remains in positive territory, whilst the RSI has turned slightly higher around 60, supporting the shorter term view, should the price recover the 136.00 level."