The EUR/JPY holds to the bearish trend underway, with the hourly chat showing price consolidating near price week low, and 100 SMA gaining bearish slope above current price around 129.35 and offering dynamic resistance. Indicators in the mentioned time frame head lower in negative territory, while in bigger time frames technical readings also present a bearish tone: 127.90 comes as immediate support, and if below there’s room for a slide towards 127.10.
Posted on: Mon, 12 Aug 2013 04:24:01 +0000