EUR/JPY needs a break below 136.20 to get bears excited - FXStreet

By FXstreet.com | August 12, 2014 AAA

FXStreet (Bali) - EUR/JPY remains pressured, although a break below 136.20 is now required to confirm a downward continuation, according to Valeria Bednarik, Chief Analyst at FXStreet.



Key Quotes



"The EUR/JPY eased down to 136.36 before bouncing some back, maintaining the overall bearish tone as per posting a lower low daily basis. The hourly chart shows price right around its 100 SMA that maintains a bearish slope, with 200 one around 137.10, reinforcing the strength of the static resistance area."



"In the same time frame, indicators are losing their upward strength below their midlines, meaning if price fails to extend its advance, further slide are in the scheme."



"In the 4 hours chart technical readings present a neutral stance adding not much to the shorter term one. At this point, a break below 136.20 is required then to confirm a downward continuation, eyeing a retest of last week low of 135.72."



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