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18 May 2015
EUR/JPY: Bullish trend remains dominant - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that EUR/JPY closed the week at its highest level since late January, still favored by EUR demand.
Key Quotes:
"The bullish dominant trend remains in place, with a key resistance now in the 137.10 region, the 200 DMA. Should the pair advance above it, there's potential for and advance towards the critical 140.00 figure later on this week."
"Shorter term, the 4 hours chart shows that the 100 SMA extended further above the 200 SMA, both well below the current level, whilst the technical indicators have turned slightly lower holding, however in positive territory."
"The RSI indicator pulled back from overbought territory, but holds around 65, suggesting a limited bearish potential. Early May high at 135.97 is now the immediate support, and as long as the price holds above it, the upside will remain favored."
Key Quotes:
"The bullish dominant trend remains in place, with a key resistance now in the 137.10 region, the 200 DMA. Should the pair advance above it, there's potential for and advance towards the critical 140.00 figure later on this week."
"Shorter term, the 4 hours chart shows that the 100 SMA extended further above the 200 SMA, both well below the current level, whilst the technical indicators have turned slightly lower holding, however in positive territory."
"The RSI indicator pulled back from overbought territory, but holds around 65, suggesting a limited bearish potential. Early May high at 135.97 is now the immediate support, and as long as the price holds above it, the upside will remain favored."