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14 Jan 2015
EUR/JPY losing out on risk-off sessions - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Japanese yen is once again the daily winner, having advance to fresh monthly highs against most of its rivals, following a late selloff in US equities.
The EUR/JPY decline extended down to a fresh 3-month low in the 138.30 price zone, and maintains a strong bearish bias as indicators aim almost vertically south in the 1 hour chart, far from suggesting a reversal despite in extreme oversold territory".
"In the 4 hours chart, technical indicators also show a strong bearish momentum supporting some further declines ahead particularly if the 138.00 figure gives up".
The EUR/JPY decline extended down to a fresh 3-month low in the 138.30 price zone, and maintains a strong bearish bias as indicators aim almost vertically south in the 1 hour chart, far from suggesting a reversal despite in extreme oversold territory".
"In the 4 hours chart, technical indicators also show a strong bearish momentum supporting some further declines ahead particularly if the 138.00 figure gives up".