Back
27 Aug 2015
EUR/JPY: 200 DMA remains compelling
FXStreet (Guatemala) - EUR/JPY is currently trading around the 136 handle with a high of 136.42 and a low of 135.25.
EUR/JPY has been feeling downward pressures through the 200 DMA located at 136.65, although has been on a minor recovery in the US session and is attempting to reclaim the 136 handle. The Yen has been offered heavily across the board from 119 but was getting some support on the comments that came from BoJ's Kuroda as the start of the Asian session when he explained that Abenomics has fixed the excessive appreciation of the Yen. He added that the 2% inflation target can be attained and even inflation expectations need to be increased. "QQE has been having its intended effects…there are no plans for additional easing."
EUR/JPY sideways around 200 DMA
Markets have now switched attention to China dumping UST's that is increasing the yield differential and supporting the greenback vs the Yen and Euro at the same time that a turn in sentiment is showing up in markets while the US continues to print upbeat data that the Fed are dependent on their quest to see the economy improve and act accordingly with a rate hike in due course.
However, EUR/USD has dropped sharply leaving the 200 DMA in the cross compelling as a level. Valeria Bednarik, chief analyst at FXStreet explained that In the 4 hours chart, the technical indicators are aiming slightly higher from oversold territory, but remain well in the red, supporting the shorter term outlook.
EUR/JPY has been feeling downward pressures through the 200 DMA located at 136.65, although has been on a minor recovery in the US session and is attempting to reclaim the 136 handle. The Yen has been offered heavily across the board from 119 but was getting some support on the comments that came from BoJ's Kuroda as the start of the Asian session when he explained that Abenomics has fixed the excessive appreciation of the Yen. He added that the 2% inflation target can be attained and even inflation expectations need to be increased. "QQE has been having its intended effects…there are no plans for additional easing."
EUR/JPY sideways around 200 DMA
Markets have now switched attention to China dumping UST's that is increasing the yield differential and supporting the greenback vs the Yen and Euro at the same time that a turn in sentiment is showing up in markets while the US continues to print upbeat data that the Fed are dependent on their quest to see the economy improve and act accordingly with a rate hike in due course.
However, EUR/USD has dropped sharply leaving the 200 DMA in the cross compelling as a level. Valeria Bednarik, chief analyst at FXStreet explained that In the 4 hours chart, the technical indicators are aiming slightly higher from oversold territory, but remain well in the red, supporting the shorter term outlook.