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29 Dec 2014
EUR/JPY biased lower, lack of volatility - FXStreet
FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, sees EUR/JPY biased lower amid lack of volatility in FX market.
Key Quotes
"The EUR/JPY trades lower in range, with the pair stuck to a tight 20 pips range for most of the last tradable 24 hours."
"Weighted by EUR weakness, the cross has broke below a short term ascendant trend line, and the 1 hour chart shows that the price stands below its 100 SMA and ready to break below the 200 SMA, whilst indicators stand in the red, keeping the pressure to the downside."
"In the 4 hours chart indicators are also biased lower around their midlines, whilst price hovers around flat moving averages, all of which reflects the ongoing lack of volatility across the forex market."
Key Quotes
"The EUR/JPY trades lower in range, with the pair stuck to a tight 20 pips range for most of the last tradable 24 hours."
"Weighted by EUR weakness, the cross has broke below a short term ascendant trend line, and the 1 hour chart shows that the price stands below its 100 SMA and ready to break below the 200 SMA, whilst indicators stand in the red, keeping the pressure to the downside."
"In the 4 hours chart indicators are also biased lower around their midlines, whilst price hovers around flat moving averages, all of which reflects the ongoing lack of volatility across the forex market."