-
EURJPY gains negative momentum; 200-day MA in its grasp
EURJPY is losing ground after succeeding to move below the key support level of 120.34, setting lower highs and lows in place as it approaches the 200-period simple moving average (SMA). Supporting the move is the bearish cross of the 100-period SMA by the 40-period one and the recent turn lower in their slopes. The technical indicators are reflecting conflicting views, as the Stochastics are climbing out of the oversold territory, while the MACD and RSI remain in the bearish region. The MACD is marginally below its red trigger line, while the RSI has turned down, still holding below the trendline. Noteworthy is the ... (full story)