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29 Jul 2014
EUR/JPY is facing headwinds; 136.20 critical
FXStreet (Guatemala) - EUR/JPY is trading at 136.87, down -0.01% on the day, having posted a daily high at 136.92 and low at 136.84.
EUR/JPY is flat and neutral on the charts testing 136.90 in a slow grind and slope up towards the 137 handle. Valeria Bednarik, chief analyst at FXStreet explained explained that the short term, the hourly chart shows price advanced a few pips, trading between 100 and 200 SMAs, both with a bearish slope, as indicators stand flat in positive territory. “In the 4 hours chart technical readings present a neutral stance, as indicators hover around their midlines directionless. The downside remains favoured, with a price acceleration below 136.60 leading to a quick test of 136.20 critical support zone”.
EUR/JPY Levels
Current price is 136.88, with resistance ahead at 136.98 (Hourly 200 SMA) 137.50, 137.90 and 138.40. Next support to the downside can be found at 136.78 (Hourly 100 SMA), 136.60 and 136.20.
EUR/JPY is flat and neutral on the charts testing 136.90 in a slow grind and slope up towards the 137 handle. Valeria Bednarik, chief analyst at FXStreet explained explained that the short term, the hourly chart shows price advanced a few pips, trading between 100 and 200 SMAs, both with a bearish slope, as indicators stand flat in positive territory. “In the 4 hours chart technical readings present a neutral stance, as indicators hover around their midlines directionless. The downside remains favoured, with a price acceleration below 136.60 leading to a quick test of 136.20 critical support zone”.
EUR/JPY Levels
Current price is 136.88, with resistance ahead at 136.98 (Hourly 200 SMA) 137.50, 137.90 and 138.40. Next support to the downside can be found at 136.78 (Hourly 100 SMA), 136.60 and 136.20.