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  • US Dollar strength has continued today, with the $DXY hitting an intraday high around 91.20. The index is now trading slightly lower, currently around 91.05, as markets wait for Powell's speech at 12:05 EST. $USD https://t.co/rxdvVhXGVX
  • $USDCAD is weaker in the aftermath of OPEC+'s decision to hold output steady, falling to trade back around the 1.2600 level. The pair fell to its lowest level in nearly three years during last week's volatility, rebounded to a high of 1.2730, and has then edged lower. $USD $CAD https://t.co/QBVe8X5nVO
  • Russia reportedly has been given an exemption from OPEC+ supply deal - Delegates
  • The Canadian Dollar is surging alongside the rise in oil prices following OPEC+'s decision to hold output steady. $CADJPY has risen above 85.00 to trade at its highest levels since late 2018. $CAD $JPY https://t.co/YzikqjWyvT
  • $WTI Crude Oil is extending its gains, rising above 64.00 to trade at its highest levels in over a year. $OIL $USO https://t.co/7aFsMmJd7x
  • OPEC+ decides not to hike output by 500kbpd in April - Delegate Oil prices at highs of the day https://t.co/UBAtzuEs0b
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.29% 🇨🇦CAD: 0.29% 🇦🇺AUD: 0.21% 🇪🇺EUR: -0.26% 🇯🇵JPY: -0.53% 🇨🇭CHF: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dULwFuQVcF
  • OPEC+ is close to keeping output unchanged in April - Delegates #OOTT
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.09% US 500: 0.04% France 40: 0.04% FTSE 100: -0.13% Germany 30: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/raVqHjfXWM
  • RT @Amena__Bakr: Saudi Arabia is proposing a rollover for April and May- delegates #OOTT #opec
EUR/JPY Classical Technical Report 05.02

EUR/JPY Classical Technical Report 05.02

Joel Kruger, Technical Strategist
daily_classical_eurjpy_body_eur.png, EUR/JPY Classical Technical Report 05.02

EUR/JPY:The corrective pullback from the March 111.40 highs looks to have finally found solid support in the 105.00 area and from here we look for the formation of a medium-term higher low in favor of the next upside extension, eventually back above 111.40. Ultimately, only a weekly close below the 200-Day SMA in the 104’s would negate outlook and give reason for pause.

--- Written by Joel Kruger, Technical Currency Strategist

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

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