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12 Feb 2014
EUR/JPY back below 140.00
FXStreet (Córdoba) - The EUR/JPY, that yesterday climbed to 140.29, reaching the highest price since January 29, is retreating in Asia below 140.00. Recently hit a fresh low at 139.65 and currently trades at 139.75/80, down 0.15% for the day.
EUR/JPY technical outlook
From a technical perspective, according to Valeria Bednarik, Chief Analyst at FXStreet the hourly shows indicators lacking strength in positive territory, “albeit price develops above its moving averages, with 100 one crossing to the upside 200 one, reflecting the short term upward strength”.
Bednarik notes that key resistance continues to be the 140.40 area and that if broken the rally should extend towards 141.00.
EUR/JPY technical outlook
From a technical perspective, according to Valeria Bednarik, Chief Analyst at FXStreet the hourly shows indicators lacking strength in positive territory, “albeit price develops above its moving averages, with 100 one crossing to the upside 200 one, reflecting the short term upward strength”.
Bednarik notes that key resistance continues to be the 140.40 area and that if broken the rally should extend towards 141.00.