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7 Jan 2015
EUR/JPY traded at 2 month lows - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, noted that the EUR/JPY trades at fresh 2 months lows.
Key Quotes:
“…EUR/JPY trades at fresh 2 months lows.Having reached 140.88 intraday on the back of safe havens demand”.
“Falling US yields alongside with stocks slide triggered strong Yen momentum that extends into Asian opening".
“Technically, the 1 hour chart shows that technical indicators stand in oversold levels, with no aims of changing course, while moving averages extended their decline far above current levels".
"In the 4 hours chart indicators maintain a strong bearish slope despite RSI stands around 15, supporting further declines. A critical support stands at 140.40 where the pair stalled several times over the last few months, and is also November 2014 monthly low. A break below it should then trigger stops and fuel the slide towards sub 140.00 levels”.
Key Quotes:
“…EUR/JPY trades at fresh 2 months lows.Having reached 140.88 intraday on the back of safe havens demand”.
“Falling US yields alongside with stocks slide triggered strong Yen momentum that extends into Asian opening".
“Technically, the 1 hour chart shows that technical indicators stand in oversold levels, with no aims of changing course, while moving averages extended their decline far above current levels".
"In the 4 hours chart indicators maintain a strong bearish slope despite RSI stands around 15, supporting further declines. A critical support stands at 140.40 where the pair stalled several times over the last few months, and is also November 2014 monthly low. A break below it should then trigger stops and fuel the slide towards sub 140.00 levels”.