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4 Feb 2015
EUR/JPY: Further declines in the Yen to follow? - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the EUR/JPY surged to a fresh 2-week high as the EUR surged strongly alongside with stocks, gaining nearly 300 pips in the day.
Key Quotes:
"The 1 hour chart shows that the price accelerated above its 100 and 200 SMAs, both converging in the 133.30 price zone, while indicators maintain their bullish slopes despite in overbought levels."
"In the 4 hours chart indicators maintain a strong upward momentum well into positive territory, albeit price stalled at a strongly bearish 100 SMA around 135.20. If local share markets surge following US indexes advance, chances are of further yen declines, particularly against high yielding rivals."
Key Quotes:
"The 1 hour chart shows that the price accelerated above its 100 and 200 SMAs, both converging in the 133.30 price zone, while indicators maintain their bullish slopes despite in overbought levels."
"In the 4 hours chart indicators maintain a strong upward momentum well into positive territory, albeit price stalled at a strongly bearish 100 SMA around 135.20. If local share markets surge following US indexes advance, chances are of further yen declines, particularly against high yielding rivals."