EUR/JPY: early Asian offers; risks remain to the downside – FXStree

By FXStreet FXStreet (Guatemala) – As pair is offered in early Asia,Valeria Bednarik, chief analyst at FXStreet noted that EUR/JPY sunk to a fresh 6-week low of 134.66, as the yen soared on safe-haven demand, resuming its latest bullish trend, also helped by falling stocks.

Key Quotes:

“The 1 hour chart shows that the price failed to advance above its 100 SMA earlier in the day, accelerating its decline afterwards. In the same chart, the technical indicators maintain a negative tone below their mid-lines, although lack directional strength at the time being.”

“In the 4 hours chart the technical indicators are bouncing alongside with the price, but remain well below their mid-lines, whilst the price is further below its moving averages, all of which maintains the risk towards the downside.”
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Source:: FX Street