Skip to content
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
EURJPY Fails to Breakout Higher

EURJPY Fails to Breakout Higher

Walker England, Forex Trading Instructor

Talking Points

  • The EURJPY opens on a false breakout
  • Today’s range starts at 140.11
  • S3 support is found at 138.87

EURJPY 30Minute Chart

(Created using TradingView Charts, click the graph to learn more)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

The EURJPY opened aggressively higher this morning, with price attempting to breakout above today’s R4 Camarilla pivot at 140.54. Price was quickly rejected at resistance however, and the EURJPY turned back inside of its trading range starting at the R3 pivot at 140.11. It should be noted that today’s range spans 82 pips, with price currently trading near the S3 pivot at 139.29. If price remains supported at this value, traders will look for range bound market conditions to continue

In the event that the EURJPY continues to decline, traders will begin looking for a breakout below the S4 pivot found at 138.87. A move to this point would be significant, opening up the possibility of price closing lower for the second time in nine trading sessions. Alternatively, a bounce off of support would suggest a reversal back in the direction of the current daily trend. A move beyond todays R4 pivot at 140.60 would be considered a bullish breakout for the EURJPY, and would leave the market with further bullish expectations going into this weeks close.

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your day trading techniques while tracking the market in real time.

Click HERE to Register Now

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

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