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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Bitcoin and Ethereum look set to climb higher in the near term, as Citigroup and Goldman Sachs prove additional validation to the cryptocurrency market. Get your market update from @DanielGMoss here:https://t.co/uqdtJGoz1E https://t.co/MbQulbtGyN
  • Risk aversion is starting to take serious traction but the Dollar is also climbing after Powell's failed attempt to soothe markets. That said, I'm watching $USDJPY (sentiment below) along with the Nasdaq 100. My analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/03/05/USDJPY-Charges-Higher-Between-Post-Powell-Yield-Rally-and-Nasdaq-Breakdown.html https://t.co/ZskVYuIpLT
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:https://t.co/STEYeIG042 https://t.co/5InKDnWH1C
  • RT @globaltimesnews: China's GDP growth target in 2021: above 6 % #TwoSessions2021 https://t.co/3CdQNNOprX
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:https://t.co/lFpzIFNmzW https://t.co/ScKuhjL27N
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.84% Gold: -0.18% Silver: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0ehtSBFwit
  • BoJ's Kuroda: Importance of keeping yield curve low remains unchanged, appropriate to increase flexibility of ETF purchases -BBG
  • BoJ's Kuroda: Don't think it is necessary to expand long-term yield band -BBG
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.06% 🇬🇧GBP: 0.06% 🇨🇦CAD: 0.05% 🇪🇺EUR: -0.08% 🇦🇺AUD: -0.12% 🇳🇿NZD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sirt9n9Boq
  • Japan's Prime Minister Suga: Hard to restart 'go to' travel within this fiscal year -BBG
EUR/JPY Technical Analysis – Euro Aims Above 139.00 Mark

EUR/JPY Technical Analysis – Euro Aims Above 139.00 Mark

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: 138.79, 138.36, 137.91
  • Resistance: 139.49, 140.06, 140.63

The Euro is aiming to extend higher against the Japanese Yen after prices narrowly cleared long-standing resistance below the 139.00 figure. Buyers now aim to challenge the 38.2% Fibonacci retracement at 139.49, with a break above that on a daily closing basis exposing the 139.95-140.06 area marked by the March 28 low and the 50% level. Alternatively, a reversal back below the 23.6% Fib at 138.79 targets the 14.6% retracement at 138.36.

The ECB seems to be the most dovish of the major central banks, putting the Euro at structural disadvantage against its G10 FX counterparts. With that in mind, we will opt not to pursue a long position and wait for the current bounce to produce a selling opportunity.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

EUR/JPY Technical Analysis – Euro Aims Above 139.00 Mark

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