EUR/JPY: downside bias - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Japanese Yen strengthened amid risk aversion, leading to a decline in the EUR/JPY that accelerated in the American afternoon.

Key Quotes:

"The risk towards the downside has increased, as in the 1 hour chart, the technical indicators head south below their mid-lines. In the same chart however, the 100 SMA heads north below current price, offering an immediate support around 130.80."

"In the 4 hours chart, the pair has filled a gap left at the weekly opening, while the technical indicators are losing bearish strength below their mid-lines, suggesting additional confirmations are required to see a downward move this Wednesday."