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Trading news
24 Apr 2015
EUR/JPY: Driven to a two week high - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the upward momentum in the EUR that drove the EUR/JPY to a fresh 2-week high.
Key Quotes:
"The 1 hour chart shows that the price advanced sharply above its moving averages, whilst the Momentum indicator maintains a strong upward slope in overbought territory, albeit the RSI indicator is losing its bullish strength around 64."
"In the 4 hours chart the price broke above its 200 SMA for the first time since September last year, although the moving average maintains a bearish slope and stands above the 100 SMA, which says is still too early to call for a mid-term upward extension."
"Nevertheless, the upside is favored towards the 130.00 level, with a break above it probably triggering stops and fuelling the advance."
Key Quotes:
"The 1 hour chart shows that the price advanced sharply above its moving averages, whilst the Momentum indicator maintains a strong upward slope in overbought territory, albeit the RSI indicator is losing its bullish strength around 64."
"In the 4 hours chart the price broke above its 200 SMA for the first time since September last year, although the moving average maintains a bearish slope and stands above the 100 SMA, which says is still too early to call for a mid-term upward extension."
"Nevertheless, the upside is favored towards the 130.00 level, with a break above it probably triggering stops and fuelling the advance."