The EUR/JPY pair fell on yen's strength, although remains within its
recent range. A technical breakout of the USD/JPY which triggered stops
was behind the EUR/USD decline towards 133.51 in the American afternoon.
Key Quotes:
"Short term, the pair is favored towards the downside, as in the 1 hour chart, the price is now below its 100 SMA, while the technical indicators aim slightly higher, but below their mid-lines, indicating no certain strength at the time being.
In the 4 hours chart, the pair is near the base of its latest range, a major static support at 133.30, while the RSI indicator turned south around 56 and the Momentum indicator stands flat around its 100 level, all of which fails to suggest a clear directional bias, but maintains the risk towards the downside."
Key Quotes:
"Short term, the pair is favored towards the downside, as in the 1 hour chart, the price is now below its 100 SMA, while the technical indicators aim slightly higher, but below their mid-lines, indicating no certain strength at the time being.
In the 4 hours chart, the pair is near the base of its latest range, a major static support at 133.30, while the RSI indicator turned south around 56 and the Momentum indicator stands flat around its 100 level, all of which fails to suggest a clear directional bias, but maintains the risk towards the downside."
