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EUR/JPY: Additional declines below 127.70 - FXStreet

FXStreet (Bali) - Technicals in EUR/JPY is suggesting some additional declines on a break below 127.70 are likely, notes Valeria Bednarik, Chief Analyst at FXStreet.

Key Quotes

"Technically, the 1 hour chart shows that the Momentum indicator stands flat around the 100 level, while the RSI indicator heads lower around 47."

"In the same chart, the 200 SMA heads lower around 127.80 whilst the 100 SMA stands at 127.70 offering immediate intraday support as the pair already bounced from this last earlier in the day."

"In the 4 hours chart the price remained below its moving averages that maintain strong bearish slopes, whilst the technical indicators head lower towards their mid-lines, suggesting some additional declines on a break below the mentioned 127.70 level."

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