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4 Jun 2014
EUR/JPY ends flat ahead of BCE
FXStreet (Córdoba) - The EUR/JPY finished Wednesday flat trading steady around 139.70. At the beginning of the day the pair reached 139.95, 2-week high, but failed to hold and pulled back.
The decline from the highs found support at 139.55 and the pair bounced back toward 140.00 during the American session but lost momentum near the mentioned level.
EUR/JPY technical outlook
“The hourly chart shows price consolidating above 139.40 immediate support and the 140.00 figure, with 100 SMA crossing to the upside 200 one, but indicators still in negative territory”, says ">Valeria Bednarik, Chief Analyst at FXStreet.
Noting risks, Bednarik points out that a break below 138.80, could push the EUR/JPY further to the downside, to test last week lows around 137.97.
The decline from the highs found support at 139.55 and the pair bounced back toward 140.00 during the American session but lost momentum near the mentioned level.
EUR/JPY technical outlook
“The hourly chart shows price consolidating above 139.40 immediate support and the 140.00 figure, with 100 SMA crossing to the upside 200 one, but indicators still in negative territory”, says ">Valeria Bednarik, Chief Analyst at FXStreet.
Noting risks, Bednarik points out that a break below 138.80, could push the EUR/JPY further to the downside, to test last week lows around 137.97.