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
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
Gold
Bullish
GBP/USD
Bullish
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
  • Heads Up:🇨🇳 FDI (YTD) YoY (DEC) due at 07:00 GMT (15min) Previous: 6.3% https://www.dailyfx.com/economic-calendar#2021-01-18
  • Wall Street Futures Update: Dow Jones (-0.133%) S&P 500 (-0.193%) Nasdaq 100 (-0.184%) [delayed] -BBG
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/dPj0seqzQS
  • An upbeat China Q4 GDP reading sent mainland and HK stocks higher, but failed to lift stocks in the rest of Asia: - CSI 300 (+1.20%) - Shanghai Composite (+0.91%) - Hang Seng (+0.65%) - Nikkei 225 (-1.01%) - ASX 200 (-0.78%) - Straits Times (-0.80%)
  • 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 68.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dNtaWoHOAB
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.15% 🇪🇺EUR: -0.04% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.16% 🇦🇺AUD: -0.23% 🇨🇦CAD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/FXFxoaAZph
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.12% Wall Street: -0.16% France 40: -0.17% US 500: -0.24% Germany 30: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/XHqhYhvlBt
  • Gold prices fell as much as 1.2% before paring most losses on Monday. A stronger USD and fading stimulus hopes were among the primary weighing factors. Traders are eyeing US$ 1,807 for near-term support. https://t.co/C3rJwjtzxk
  • US Dollar Bottoming? Smaller Fiscal Stimulus, Earnings, Covid Threaten ASEAN FX https://www.dailyfx.com/forex/fundamental/article/special_report/2021/01/18/US-Dollar-Bottoming-Smaller-Fiscal-Stimulus-Earnings-Covid-Threaten-ASEAN-FX.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gXQFhAXxvp
  • 🇯🇵 Industrial Production YoY Final (NOV) Actual: -3.9% Previous: -3% https://www.dailyfx.com/economic-calendar#2021-01-18
EUR/JPY Technical Analysis – Still Waiting for Follow-Through

EUR/JPY Technical Analysis – Still Waiting for Follow-Through

2014-04-17 21:33:00
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: 140.58 (rising trend line)
  • Resistance: 141.75 (38.2% Fib exp.), 142.67 (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 142.67. Trend line support is now at 140.58.

Prices are trading too close to relevant resistance to make a long trade attractive from a risk/reward perspective. Follow-through on the Piercing Line has also proven lackluster for an extended period at this point, casting doubt on the setup’s potency. We will stand aside for now and monitor future developments for opportunities.

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 – Still Waiting for Follow-Through

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