EUR/JPY: in a phase of consolidation – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY advanced some at the beginning of the week, although the pair continues trading with no clear directional strength in the shorter term, and the downside favored in the longest one.

Key Quotes:

“The recovery was led by a softer tone in the Japanese yen as poor retail sales and mixed industrial production data released overnight put the currency under pressure.”

“As for the 4 hours chart, the price is hovering above a horizontal 200 SMA, and remains well below a 100 SMA, while the technical indicators head nowhere around their mid-lines, in line with the ongoing consolidative stage.”
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Source:: FX Street