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
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
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
Bearish
More View more
Real Time News
  • GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Jan 07, 2021 when GBP/JPY traded near 140.83. A contrarian view of crowd sentiment points to GBP/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/gVLxfrvYB4
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 69.04%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IJcnNf27Os
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 0.52% Gold: 0.27% Oil - US Crude: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/l5ibUSvT23
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.12% 🇨🇭CHF: 0.12% 🇪🇺EUR: -0.04% 🇨🇦CAD: -0.29% 🇳🇿NZD: -0.30% 🇦🇺AUD: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MTsEq7hKxa
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-18
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/XAFYM7zDJh
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.07% FTSE 100: 0.00% France 40: -0.06% Wall Street: -0.12% US 500: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gxgRguXtKH
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/mQbf0KPldQ
  • USDCNH trend break may have legs... https://t.co/7eSxRtiOfI
  • 🇮🇹 Inflation Rate YoY Final (DEC) Actual: -0.2% Expected: -0.1% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2021-01-18
Forex: EUR/JPY Technical Analysis – Quiet Consolidation Continues

Forex: EUR/JPY Technical Analysis – Quiet Consolidation Continues

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/JPY Technical Strategy: Flat
  • Support: 140.73-89 (horizontal pivot, 38.2% Fib ret.), 140.00 (50% Fib ret.)
  • Resistance: 142.00 (23.6% Fib ret.), 143.78 (Mar 7 high)

The Euro continues to trade sideways above support in the 140.73-89 area, marked by a horizontal pivot and the 38.2% Fibonacci retracement, having fallen as expected against the Japanese Yen. A break downward initially exposes the 50% level at the 140.00 figure. Alternatively, a move above near-term resistance at 142.00 – the 23.6% Fibonacci retracement, targets the March 7 high at 143.78.

Risk/reward considerations argue against entering short with prices so close to support. On the other hand, taking up the long side looks premature absent a defined reversal signal. We will continue to stand aside until a more actionable setup emerges.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis – Quiet Consolidation Continues

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES