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16 Jul 2015
EUR/JPY: Bearish the clear on four-hour chart - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that EUR/JPY resumed its decline on the back of the EUR weakness, trading as low as 134.75 on the day, and closing the day below the 135.00 level.
Key Quotes:
"The 1 hour chart shows that the intraday attempts of recovery were capped by the 200 SMA, currently around 135.30, providing an immediate intraday resistance, whilst the technical indicators present tepid bearish slopes below their mid-lines.
In the 4 hours chart, the bearish tone is clearer as the price has been steadily printing lower lows and lower highs, whilst the technical indicators maintain their strong bearish slopes below their mid-lines. The immediate support stands at 134.60, with a break below it required to confirm additional declines towards the 133.70 region."
Key Quotes:
"The 1 hour chart shows that the intraday attempts of recovery were capped by the 200 SMA, currently around 135.30, providing an immediate intraday resistance, whilst the technical indicators present tepid bearish slopes below their mid-lines.
In the 4 hours chart, the bearish tone is clearer as the price has been steadily printing lower lows and lower highs, whilst the technical indicators maintain their strong bearish slopes below their mid-lines. The immediate support stands at 134.60, with a break below it required to confirm additional declines towards the 133.70 region."