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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • while compared to MRNA vaccines, risk of rare blood clotting from Covid-19 is 10x greater
  • Oxford Uni finds that compared to AZ-Oxford vaccine, risk of rare blood clotting from Covid-19 is about 8x greater
  • Please join @PaulRobinsonFX at 6:00 EST/10:00 GMT for a webinar on how you can become a better trader in current markets. Register here: https://t.co/XO3SOn8u43 https://t.co/1AO0tXYz7L
  • Heads Up:🇬🇷 Unemployment Rate (JAN) due at 09:00 GMT (15min) Previous: 15.8% https://www.dailyfx.com/economic-calendar#2021-04-15
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/q7YCOo8DM1
  • US Dollar Looks to Retail Sales, Jobless Claims Data for a Lifeline - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/04/15/US-Dollar-Looks-to-Retail-Sales-Jobless-Claims-Data-for-a-Lifeline.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #dollar #retailsales #joblessclaims https://t.co/vJVKJ5P92g
  • Heads Up:🇬🇧 BoE Credit Conditions Survey due at 08:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇪🇸 Balance of Trade (FEB) Actual: €-1.082B Previous: €-1.769B https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇮🇹 Inflation Rate YoY Final (MAR) Actual: 0.8% Expected: 0.8% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-04-15
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.93%, while traders in France 40 are at opposite extremes with 75.22%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F80m5ro5O1
EURJPY at Risk Sub 135- Short Scalps Favored

EURJPY at Risk Sub 135- Short Scalps Favored

Michael Boutros, Strategist

Talking Points

EUR/JPY Daily

EURJPY at Risk Sub 135- Short Scalps Favored

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • EURJPY setting monthly opening range below key resistance
  • At risk for correction lower after tagging TL confluence last week
  • Key support with the march median-line / 132.20/63 backed by 131& 129.87
  • Breach above 135.79 needed to shift focus back to the long-side (bearish invalidation)
  • Topside resistance objectives at the upper MLP, 137.16 & 137.93
  • Daily RSI support trigger pending
  • Event Risk Ahead: Japan Trade Balance tonight & Eurozone GDP tomorrow

EUR/JPY 30min

EURJPY at Risk Sub 135- Short Scalps Favored

Notes:EURJPY looks to be holding within the confines of a median-line formation off the initial May highs with last night’s rally reversing off the upper MLP / Fibonacci resistance into 135.12. Proximity to resistance & a subsequent turnaround in momentum has us holding shorts here with ¼ of the trade closed out at the initial 37pip ATR profit target. Interim support stands at 134.18/20 backed by the TL support / 133.74 & the weekly low.

Bottom line: looking lower against today’s high’s (near-term bearish invalidation) with a break below the weekly lows targeting the 132.80 region / the operative ML. Caution is warranted heading into event risk this week with Japanese Trade Balance Figures tonight and Eurozone GDP data tomorrow likely to fuel added volatility in EUR & JPY crosses. A breach above 135.28 invalidates our scalp bias with a push through 135.80 shifting the focus back to the long-side of the pair.

* It’s extremely important to give added consideration regarding the timing of intra-day scalps with the opening ranges on a session & hourly basis offering further clarity on intra-day biases.

Relevant Data Releases

EURJPY at Risk Sub 135- Short Scalps Favored

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

For updates on this scalp and more setups visit SB Trade Desk

Follow Michaelon Twitter @MBForex,contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFXat 12:30 GMT (8:30ET)

Interested in learning about Fibonacci? Watch this Video

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

DISCLOSURES