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23 Apr 2015
EUR/JPY struggles with 100 SMA on 4hr - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that a weaker Japanese yen helped the EUR/JPY surge to an intraday high of 128.95 overnight.
Key Quotes:
"Albeit, the pair retreated from the level, still unable to define a clearer trend. Short term, the pair presents a bullish tone, as the 1 hour chart shows that the price bounced sharply from a bullish 100 SMA, currently around 128.30, whilst the technical indicators head higher above their mid-lines."
"In the same chart, the distance in between 100 and 200 SMAs keeps widening, which reflects buyers are taking the lead."
"In the 4 hours chart the price struggles around a mild bearish 100 SMA, whilst the technical indicators head higher above their mid-lines, supporting the shorter term view."
Key Quotes:
"Albeit, the pair retreated from the level, still unable to define a clearer trend. Short term, the pair presents a bullish tone, as the 1 hour chart shows that the price bounced sharply from a bullish 100 SMA, currently around 128.30, whilst the technical indicators head higher above their mid-lines."
"In the same chart, the distance in between 100 and 200 SMAs keeps widening, which reflects buyers are taking the lead."
"In the 4 hours chart the price struggles around a mild bearish 100 SMA, whilst the technical indicators head higher above their mid-lines, supporting the shorter term view."