EUR/JPY: Shor term picture turns mildly bullish - FXStreet

By FXstreet.com | July 31, 2014 AAA

FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the short term picture in EUR/JPY has turned mildly bullish ahead of the US Non-Farm Payrolls.



Key Quotes



"Yen halted its fall against its rivals, in fact resisting pretty well considering US indexes fell sharply on Thursday, erasing all of their monthly gains: weak earnings reports plus worries over Portuguese Espirito Santo bank and Argentinean default weighted in Wall Street."



"The EUR/JPY closed the day unchanged after finding short term buyers around 137.50, still the immediate support to watch. The short term picture is mild bullish, as price develops well above its 100 and 200 SMAs, with the shortest finally above the larger, albeit indicators hold in neutral territory. In the 4 hours chart however, indicators lost the upward potential and turn south, still above their midlines."



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