FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY pair has shown little progress this Tuesday, having been confined to a tight range right below the 133.00 figure for most of the American afternoon, as both currency presented correlated moves against the greenback.
Key Quotes:
"The technical picture for the pair has turned short term bearish, as in the 1 hour chart, the price is being capped by its 100 SMA, whilst the technical indicators present a mild negative tone below their mid-lines, lacking bearish strength at the time being."
"In the 4 hours chart, however, bears seem to have taken the lead, as the Momentum indicator heads sharply lower below the 100 level, whilst the 100 SMA is accelerating south below the 200 SMA, both well above the current level."
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