News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • S&P 500, Nasdaq Rally After the Fed; 10 Year Yield to Two-Month-Highs
  • #Bitcoin Outlook: $BTCUSD Bounce From 40K, Fake-out or Shake-out? -
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again...
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday!
  • The future taper isn't enough to urge the Dollar to a critical bullish break. In turn, $EURUSD has reversed shy of of August's trough and keeps in play an inverse head-and-shoulders pattern with a neckline at 1.19
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy
EUR/JPY Technical Outlook: Downtrend Set to Resume

EUR/JPY Technical Outlook: Downtrend Set to Resume

Paul Robinson, Strategist

EUR/JPY Technical Outlook

  • Intermediate-term trend lower to resume
  • Corrective sequence on 4-hr triggering

EUR/JPY Technical Outlook: Downtrend Set to Resume

The bounce in EUR/JPY looks to be coming to an end, with a wedge on the 4-hr chart starting to give-way. These types of ascending wedges within the context of a downtrend indicate a lack of conviction and act as corrective patterns.

Shorts initiated here may look to set their stop sufficiently above last week’s high at 13056, while initially targeting the most recent swing-low at 12859 and the 200-day which is in confluence at 12862. From a current price of just over 13000 that could amount to a solidly skewed risk/reward ratio.

Should price decline to support, traders may want to take profits or at least take partial profits and implement a trailing stop strategy if momentum looks set to push towards a new swing-low beneath support.

EUR/JPY Daily Chart

eur/jpy daily chart

EUR/JPY 4-hr Chart

eur/jpy 4-hr chart

EUR/JPY Charts by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.