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
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
GBP/USD
Bearish
USD/JPY
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
Gold
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
Bullish
Bitcoin
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
More View more
Real Time News
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.06% 🇬🇧GBP: -0.11% 🇯🇵JPY: -0.14% 🇪🇺EUR: -0.24% 🇦🇺AUD: -0.24% 🇳🇿NZD: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VKc6ZzWKxp
  • NZD/USD, AUD/USD Forecast: Kiwi & Aussie Dollar to USD Price- Breakout Levels More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/nzd-usd/2019/11/12/NZDUSD-AUDUSD-Forecast-Kiwi-Aussie-Dollar-to-USD-Price--Breakout-Levels-MK.html?CHID=9&QPID=917714 https://t.co/rDG2CL6NDm
  • The probability that the Fed holds its current rate range (1.50 - 1.75%) through end of 2020 has dropped from 52% yesterday to 40% today. $DXY vs FF rate pricing to Dec: https://t.co/jYU10Itd1A
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.60% France 40: 0.49% US 500: 0.49% Wall Street: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hA4MvWIaqU
  • $SPX sets a fresh all time high above the 3100 level leading up to Trump talk https://t.co/Bz6jyHPL7x
  • It's Quiz Time...The DNA FX Quiz Discover What Kind of FX Trader You Are!!! https://www.dailyfx.com/research/dna-fx
  • US Crude #oil tests weekly resistance at 57.50 ahead of Trump talk https://t.co/22JMvyZGlB
  • #Gold is struggling to hold onto to $1,450/oz. and may seek to test the next levels of support around $40/oz. Get your $gld market update from @nickcawley1 here:https://t.co/JAHBwUainy https://t.co/A07NmDuThf
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.78% Gold: -0.17% Silver: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Z1x6uahPwy
  • RT @BittelJulien: More evidence suggesting the possibility for a cycle shift higher in US unemployment. The avg. of NFIB job openings, comp…
EUR/JPY Technical Analysis – Support Above 139.00 Tested

EUR/JPY Technical Analysis – Support Above 139.00 Tested

2014-05-15 22:52:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • EUR/JPY Technical Strategy: Flat
  • Support: 139.11 (61.8% Fib ret.), 138.01 (76.4% Fib ret.)
  • Resistance: 140.00 (50% Fib ret.), 140.89 (38.2% Fib ret.)

The Euro dropped to a three-month low against the Japanese Yen after clearing support at the 140.00 figure. Sellers are testing the 61.8% Fibonacci retracement at 139.11, with a break below that aiming for the 76.4% level at 138.01. Alternatively, a turn back above the 50% Fib at 140.00 aims for the 38.2% retracement at 140.89.

Prices are too close to support to justify a short position from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal warns against taking up the long side. With that in mind, we remain flat for now.

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

EUR/JPY Technical Analysis – Support Above 139.00 Tested

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.