EUR/JPY: 135 on the cards? – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY pair continues trading range bound, ending the day slightly higher amid EUR’s strength, although with the pair still unable to firm up above the 134.00 figure.

Key Quotes:

“The intraday technical readings have finally erased the distortions of last week, and the 1 hour chart shows that the price continues consolidating well above its 100 and 200 SMAs, with the shortest accelerating its advance below the current price. In the same chart the technical indicators post tepid advances in positive territory, but fail to confirm an upward continuation at the time being.

In the 4 hours chart, the RSI indicator heads higher around 64, but the Momentum indicator lacks directional strength around its mid-line, suggesting some further consolidation ahead. An advance above 134.20 should favor some further gains, pointing then to a test of the 135.00 region.”
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Source:: FX Street