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
Bullish
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
Gold
Bearish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • Oh, darn. https://t.co/Ad1n6Kp2tA
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.54%, while traders in USD/CAD are at opposite extremes with 69.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UF0y0Sw797
  • $USDKRW up over 0.5% after BOK Governor hinted possibility of Q1 GDP contraction, bringing up rate cut potential depending on #coronavirus assessment. They are not considering tools such as QE but he did bring up that they have unconventional ones - https://t.co/sl3gYBKYd3 https://t.co/P13unLL4gh
  • Bank of Korea's Lee: It is possible South Korean GDP will contract in the first quarter, still have room to take actions if needed. Have unconventional tools to some degree -BBG
  • Bank of Korea's Lee: Two members opposed today's decision to hold rates -BBG
  • The #Euro may be close to resuming the downtrend against the US Dollar after managing a shallow recovery from support just below the 1.08 figure. Get your $EUR market update from @IlyaSpivak here: https://t.co/WJCO0fVagR https://t.co/ytCj6HqOVE
  • Bank of Korea's Governor Lee: Coronavirus outbreak affecting consumption and exports. Latest GDP view is based on virus peaking in March. Negative virus impact likely to be concentrated in 1Q -BBG
  • #Brazil benchmark equity index #Ibovespa suffered its biggest one-day decline since May 2017 and broke a 2-year uptrend after news broke that Latin America's largest country reported its first case of #Covid_19. It may be a painful session ahead when local markets open. https://t.co/YFLJD1gCVs
  • Bank of Japan's Kataoka: It is appropriate for the central bank to lower interest rates, BoJ should strengthen forward guidance. Coordination with fiscal policy very important -BBG
  • Looking at my majors-based #Yen index, #JPY could have quite the room to rally on average if there is a deeper turn in equities. The currency has still largely been consolidating since December on average and a break above the January and February highs could mark a bullish trend https://t.co/fIA4BeTmyf
EUR/JPY Classical Technical Report 12.08

EUR/JPY Classical Technical Report 12.08

2011-12-08 06:30:00
Joel Kruger, Technical Strategist
Share:
Daily_Classical_EURJPY_body_eurjpy2.png, EUR/JPY Classical Technical Report 12.08

EUR/JPY: The latest break back below the daily Ichimoku cloud delays any hopes for a meaningful recovery on the cross and opens the door for a more significant decline back down towards critical support by the recently established multi-year lows at 100.75. However, there is some evidence of a bullish reversal following some constructive price action in the previous week, but a break and close back above 105.70 would be required to negate bearish outlook and relieve immediate downside pressures.

.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.