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
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
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
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • China's Foreign Ministry says China will take countermeasures to any interference on internal affairs
  • 🇸🇪 GDP Growth Rate YoY Final Actual: 0.4% Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇸🇪 GDP Growth Rate QoQ Final Actual: 0.1% Expected: -0.6% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.28% Gold: 0.10% Oil - US Crude: -2.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mkIbEfNzBd
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.44% 🇦🇺AUD: 0.29% 🇪🇺EUR: 0.22% 🇨🇭CHF: 0.13% 🇳🇿NZD: 0.05% 🇨🇦CAD: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wBltp4UJfg
  • Heads Up:🇸🇪 GDP Growth Rate YoY Final due at 07:30 GMT (15min) Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇸🇪 GDP Growth Rate QoQ Final due at 07:30 GMT (15min) Expected: -0.6% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Major option expiries - $EURUSD 1.1050-55 (820mln), 1.1145-55 (1.1bln) - $AUDUSD 0.66 (1.1bln), 0.6650 (665mln), 0.6700 (1.45bln)
  • 🇭🇺 GDP Growth Rate YoY Final Actual: 2.2% Expected: 2.2% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇭🇺 GDP Growth Rate QoQ Final Actual: -0.4% Expected: -0.4% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-05-29
EUR/JPY Technical Analysis – Candle Pattern Hints at Bounce

EUR/JPY Technical Analysis – Candle Pattern Hints at Bounce

2014-04-11 00:08:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/JPY Technical Strategy: Flat
  • Support: 140.38 (rising trend line)
  • Resistance: 141.75 (38.2% Fib exp.), 142.82 (falling trend line)

The Euro may be readying an upward reversal against the Japanese Yen after prices produced a bullish Piercing Line candlestick pattern above rising trend line support from mid-February. A daily close above initial resistance at 141.75, the 38.2% Fibonacci expansion, exposes a downward-sloping trend line resistance at 142.82. Trend line support is now at 140.38.

The distance between near-term support and resistance is 63 pips while the 20-day ATR reading comes in at 105 pips.That makes for an available trading range that is too narrow trade with a strategy using a stop-loss activated on a daily closing basis (as is the case with our approach). We will remain on the flat for now.

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

dailyclassics_eur-jpy_body_Picture_12.png, EUR/JPY Technical Analysis – Candle Pattern Hints at Bounce

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

News & Analysis at your fingertips.