Tuesday, September 29, 2015

EUR/JPY minor recovery stalling ahead of 200 SMA

FXStreet (Guatemala) - EUR/JPY is currently trading at 1234.66 with a high of 135.00 and a low of 133.93.

EUR/JPY is making headway on the 134 handle and despite, stocks plummeting in the European sessions and the US heading in the same way. The euro is strong in its own right, having rallied from the 1.1160 level and up to challenge the 200 DMA after penetrating the 1.12 handle with month end related flows.

EUR/JPY minor recovery headed back to 132.20's?

EUR/JPY is making a minor recovery here from the 134 handle and is starting to slow up at the 50 SMA on the hourly chart at 134.62 and is failing well below the 200 SMA at 135.09. However, Karen Jones, chief analyst at Commerzbank explained that they still view the market as having topped and look for a slide back to the 132.24/131.80 recent low and 61.8% retracement.
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