Monday, September 21, 2015

EUR/JPY downside playing out, testing 200 DMA

FXStreet (Guatemala) - EUR/JPY is currently 135.40 with a high of 135.66 and a low of 135.37.

EUR/JPY has consolidated the the decline in last week's business from the 137.40 level when it reached the lows of 135.24 before catching demand but remains under pressure below the 200 SMA with the 20 crossing below the 50 SMA.

The Yen is finding demand but that all may turn on its head should US this week perform well and US equities pick up. In respect of the Greek elections, there really has not been much reaction to it, but a sigh of relief can be heard now that Tsipras has won.

The cross has turned negative and the 200 DMA is being pressured at 135.50 and should this level of support give way with closes, 134.80 guards 133.10, 132.80 and 131.80 further out.
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