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10 Apr 2015
EUR/JPY downside still to play for
FXStreet (Guatemala) - EUR/JPY is currently trading at 128.55 with a high of 128.64 and a low of 128.41.
EUR/JPY has picked up some demand at the lowest point for April and mid March business. The cross has been subject to movements in greenback that has been making a come back, pressuring both the euro and yen but taking the Yen into negative territory in the higher end of the 120 handle.
Valeria Bednarik, chief analyst at FXStreet explained that the pair is technically bearish longer term, "In the 4 hours chart the technical picture also favors the downside as the price extended further below its moving averages, whilst the RSI hovers around 30 and the Momentum indicator holds below the 100 level."
EUR/JPY has picked up some demand at the lowest point for April and mid March business. The cross has been subject to movements in greenback that has been making a come back, pressuring both the euro and yen but taking the Yen into negative territory in the higher end of the 120 handle.
Valeria Bednarik, chief analyst at FXStreet explained that the pair is technically bearish longer term, "In the 4 hours chart the technical picture also favors the downside as the price extended further below its moving averages, whilst the RSI hovers around 30 and the Momentum indicator holds below the 100 level."