EUR/JPY: lacking directional strength and flat - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY pair ends the day pretty much flat around 113.15, having, however, posted a lower low weekly basis of 112.77, but was unable to break below the key Fibonacci support, as both currencies were generally stronger against the greenback.

Key Quotes:

"From a technical point of view, the risk is towards the downside, as in the 1 hour chart, an early advance was contained by a bearish 200 SMA, currently at 113.40, whilst the technical indicators have lost upward strength and are currently flat within neutral territory. In the 4 hours chart, the 100 SMA has extended its decline, but remains above the 200 SMA, both in the 114.40/80 region, while the technical indicators continue hovering around their mid-lines, with no directional strength."