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20 Aug 2015
EUR/JPY: recovers its shine - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that EUR/JPY recovered its shine.
Key Quotes:
"Advancing up to 138.65 on the back of EUR's strength, holding firm above the 138.00 figure by the end of the day.
The Japanese yen strengthened on risk sentiment, limiting gains in the EUR/JPY, but the positive tone prevails as the price soared above its 100 and 200 SMAs, with the shortest still below the largest, and the technical indicators have corrected overbought readings, now losing their bearish strength, well above their mid-lines.
In the 4 hours chart the Momentum indicator stands flat above 100, whilst the RSI retreats from overbought levels holding above 58. The upside is favoured as long as the price holds above the 137.80, with scope to advance beyond 139.00 on renewed buying interest beyond the mentioned daily high."
Key Quotes:
"Advancing up to 138.65 on the back of EUR's strength, holding firm above the 138.00 figure by the end of the day.
The Japanese yen strengthened on risk sentiment, limiting gains in the EUR/JPY, but the positive tone prevails as the price soared above its 100 and 200 SMAs, with the shortest still below the largest, and the technical indicators have corrected overbought readings, now losing their bearish strength, well above their mid-lines.
In the 4 hours chart the Momentum indicator stands flat above 100, whilst the RSI retreats from overbought levels holding above 58. The upside is favoured as long as the price holds above the 137.80, with scope to advance beyond 139.00 on renewed buying interest beyond the mentioned daily high."