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30 Jul 2015
EUR/JPY: Mores bears in Tokyo? - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet note that the EUR/JPY resumed its decline after the FOMC statement, with the yen refusing to give up against the greenback and the EUR weakening sharply on the news.
Key Quotes:
"The pair fell down to its 100 SMA in the 1 hour chart where it stands, and the technical indicators in the mentioned time frame stand below their mid-lines, with the RSI accelerating its decline around 42 and maintaining the risk towards the downside.
"In the 4 hours chart, the technical indicators present a mild bearish slope, with the Momentum indicator crossing the 100 level towards the downside with a limited downward strength. Additional declines are likely after the Nikkei opening, with a break below 136.00 favouring a continued decline towards the 134.40 price zone."
Key Quotes:
"The pair fell down to its 100 SMA in the 1 hour chart where it stands, and the technical indicators in the mentioned time frame stand below their mid-lines, with the RSI accelerating its decline around 42 and maintaining the risk towards the downside.
"In the 4 hours chart, the technical indicators present a mild bearish slope, with the Momentum indicator crossing the 100 level towards the downside with a limited downward strength. Additional declines are likely after the Nikkei opening, with a break below 136.00 favouring a continued decline towards the 134.40 price zone."