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10 Feb 2014
EUR/JPY finds support at 139.15, ends flat
FXStreet (Córdoba) - The EUR/JPY finished on Monday around 139.40/45, around the same price level it closed on Friday, on a quiet trading day. At the beginning of the week the pair peaked at 139.80, the highest price since January 29 but then lost momentum and pulled back, finding support at 139.15.
During the American session the Yen lost momentum across the board and the EUR/JPY erased losses. At the moment of writing is trading barely below 139.50.
EUR/JPY technical outlook
The pair maintains its overall latest strength according to Valeria Bednarik, Chief Analyst at FXStreet: “the hourly chart shows price mostly consolidating above its moving averages, with 100 one ready to cross to the upside 200 one, and indicator struggling in neutral territory”.
Bednarik affirms that the 4-hour charts show indicators in overbought territory, “but remain well into positive territory, far from suggesting a slide”.
During the American session the Yen lost momentum across the board and the EUR/JPY erased losses. At the moment of writing is trading barely below 139.50.
EUR/JPY technical outlook
The pair maintains its overall latest strength according to Valeria Bednarik, Chief Analyst at FXStreet: “the hourly chart shows price mostly consolidating above its moving averages, with 100 one ready to cross to the upside 200 one, and indicator struggling in neutral territory”.
Bednarik affirms that the 4-hour charts show indicators in overbought territory, “but remain well into positive territory, far from suggesting a slide”.