FxWirePro: EUR/JPY finds stiff resistance at 200-DMA (131.90), break below 5-DMA to see further weakness
EUR/JPY rejected at 200-DMA again on Tuesday's trade, slips lower to close below 21-EMA. Minor recovery attempts on the day was rejected at session highs at 131.17, slips below 131 handle. The pair finds stiff resistance…
EUR/JPY rejected at 200-DMA again on Tuesday's trade, slips lower to close below 21-EMA.
Minor recovery attempts on the day was rejected at session highs at 131.17, slips below 131 handle.
The pair finds stiff resistance in 131.90 to 132.25 zone, we can see upside only on decisive breakout above.
Technical indicators lack clear directional bias. RSI and Stochs are in neutral zone on daily charts.
Immediate support is seen at 5-DMA at 130.35, break below will see slight weakness.
200W SMA offers strong support, violation there will see major downtrend.
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 130.488 (Bullish), while Hourly JPY Spot Index was at -110.03 (Bearish) at 0930 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
