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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
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
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • 🇪🇺 EUR German Gross Domestic Product w.d.a. (YoY) (3Q F), Actual: 0.5% Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2019-11-22
  • 🇪🇺 EUR German Gross Domestic Product n.s.a. (YoY) (3Q F), Actual: 1,0% Expected: 1.0% Previous: 1.0% https://www.dailyfx.com/economic-calendar#2019-11-22
  • The $JPY has posted some rare gains against the US Dollar on its daily chart, but important channel support still holds on an intraday basis. Keep a close eye on it now. Get your market update from @DavidCottleFX here:https://t.co/ReMGzu6OjP https://t.co/FkSEGuro3T
  • 🇪🇺 EUR German Gross Domestic Product w.d.a. (YoY) (3Q F), Actual: 1% Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2019-11-22
  • Heads Up:🇪🇺 EUR German Gross Domestic Product w.d.a. (YoY) (3Q F) due at 07:00 GMT (15min), Actual: N/A Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2019-11-22
  • Heads Up:🇪🇺 EUR German Gross Domestic Product n.s.a. (YoY) (3Q F) due at 07:00 GMT (15min), Actual: N/A Expected: 1.0% Previous: 1.0% https://www.dailyfx.com/economic-calendar#2019-11-22
  • European Opening Calls From IG: #FTSE 7259 +0.28% #DAX 13166 +0.22% #CAC 5892 +0.18% #MIB 23339 +0.26% #IBEX 9236 +0.23% #STOXX 3688 +0.21%
  • USD/MXN Technical Analysis: Peso Breaks Down as USMCA Lingers - https://www.dailyfx.com/forex/technical/article/special_report/2019/11/22/USDMXN-Technical-Analysis-Peso-Breaks-Down-as-USMCA-Lingers.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #USDMXN #USMCA https://t.co/ZHZWXOGHuW
  • What is a CPI and why does it affect #forex traders? Find out: https://t.co/nGztbG91kc #tradingstyle https://t.co/d06LgWdP50
  • My trading video for today: 'S&P 500 Slip Isn't Yet Bearish Conviction, Even with Trade War and Recession Headlines' https://www.dailyfx.com/forex/video/daily_news_report/2019/11/22/SP-500-Slip-Isnt-Yet-Bearish-Conviction-Even-with-Trade-War-and-Recession-Headlines.html?CHID=9&QPID=917719 https://t.co/WRXYdP6ru2
EUR/JPY Technical Analysis – May Bottom Under Pressure

EUR/JPY Technical Analysis – May Bottom Under Pressure

2014-05-28 23:03:00
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: 138.13-33 (May 21 low, 23.6% Fib exp.), 137.70 (38.2% Fib exp.)
  • Resistance: 139.16 (23.6% Fib ret.), 139.79 (38.2% Fib exp.)

The Euro turned lower against the Japanese Yen once again having found resistance above the 139.00 figure. Near-term support is in the 138.13-33 area, marked by the May 21 low and the 23.6% Fibonacci expansion. A break downward on a daily closing basis exposes the 38.2% level at 137.70. Alternatively, a reversal above the 23.6% Fib retracement at 139.16 clears the way for a test of the 38.2% threshold at 139.79.

Risk/reward considerations argue against entering short with prices sitting squarely at support. On the other hand, taking up the long side seems premature absent a defined bullish reversal signal. We will remain flat for now.

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

EUR/JPY Technical Analysis – May Bottom Under Pressure

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.