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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
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
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • Coronavirus latest shrugged off by #Dow Jones, investors on Fed watch. #FTSE 100 awaits Bank of England’s 50/50 rate decision. Get your #equities market update from @JMcQueenFX here: https://t.co/3klcZ6CHpe https://t.co/RWY1R1fVf5
  • RT @FirstSquawk: Five rockets hit near US embassy in Iraq capital: security source
  • #DidYouKnow crude #oil is a natural resource that differs in composition depending on its location. Find out more crude oil facts from @WVenketas here: https://t.co/Ssp486xz2J #OOTT #CommoditieswithDailyFX https://t.co/NVBR5kbYgb
  • The $JPY may resume a five-year rise against the New Zealand Dollar if prices make good on a Head-and-Shoulders pattern, pushing NZD/JPY toward 70.00. Get your market update from @ddubrovskyFX here: https://t.co/DXPkAjLoLp https://t.co/nyi5fDamr8
  • RT @RaoulGMI: Thanks Fitwit! Lots of great, smart ideas of playing the downgrades of BBB. The collective hive mind is truly incredible and…
  • transmissibility is increasing — news flow hasn’t been kind over the weekend — should be an interesting globex open #CoronavirusOutbreak https://t.co/UZYoZOQZ7V
  • The #Euro may be preparing to turn lower against the Japanese Yen, resuming a two-year downtrend and setting the stage for a decent below the 111.00 figure. Get your market update from @IlyaSpivak here: https://t.co/jtjJ1H2eRi https://t.co/epncUWJTSo
  • The $JPY has faded into 2020 as market risk appetite has held up and hit demand for haven assets. USD/JPY now challenges a key medium-term downtrend, but hasn’t topped it yet. Get your market update from @DavidCottleFX here:https://t.co/4X6vgCgkB7 https://t.co/bLWABxibOo
  • My pleasure! https://t.co/R7ArKNjCNO
  • The range in USD/CAD broke with aggression this week as CAD sellers pushed the currency after the Bank of Canada rate decision. Get your $USDCAD technical analysis from @JStanleyFX here: https://t.co/8oHoLLqvtR https://t.co/8ZXx6GbKAn
Top Trade Idea 2020: Long EUR/JPY – Chart Suggests a Bullish Set-up in the Making

Top Trade Idea 2020: Long EUR/JPY – Chart Suggests a Bullish Set-up in the Making

2019-12-31 18:00:00
Nick Cawley, Analyst
Share:

My forex-pair to watch for a longer-term set-up in 2020 is long EUR/JPY with the charts currently suggesting that the heavy sell-off initiated at the start of 2018 is finally breaking down.

While the Japanese Yen continues to benefit from its risk-off status as the US-China trade war rumbles on, it is likely that a resolution - or even part-resolution - to this will be found early 2020 with neither side benefitting from trade tariffs, whatever they say. This will weaken JPY.

EUR/JPY Weekly Price Chart (February 2017 – 11, December 2019) (Chart 1)

EURJPY Weekly Price Chart

On the left-hand side of the pair, the Euro is now in the hands of a new ECB President, Christine Lagarde, who has already let it be known that fiscal policy should start replacing the current loose monetary policy.

Top Trading Opportunities in 2020
Top Trading Opportunities in 2020
Recommended by Nick Cawley
Download our Top Trading Opportunities for 2020
Get My Guide

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

DISCLOSURES

News & Analysis at your fingertips.