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
EUR/USD
Bullish
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
Wall Street
Bearish
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • #Gold Price Technical Outlook: $XAUUSD Soars to Nine-Year Highs - https://t.co/NS6YfghqIg https://t.co/WUqbvANriw
  • Heads Up:🇺🇸 Fed Bostic Speech due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-09
  • RT @TheStalwart: Starting to look clear that where cases are surging, deaths are starting to go up. Here's the 7-day moving average of both…
  • US 8-Week Bills Draw 0.100% Primary Dealers Awarded: 68.4% Indirect Bidders Accepted: 26.7% Direct Bidders Accepted: 4.9% B/C Ratio: 2.96
  • $Gold snap back, testing support around prior res 1796-1800. prior eight-year-high up to the 1800 psych level https://t.co/LPyHLlQpk8 https://t.co/lEkGvK14kK
  • Arizona virus cases increase 3.7%, in line with prior 7-day average - BBG
  • Hey traders! Market risk appetite is highly concentrated. What are some other market highlights for today? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/YvQTLDBK7p
  • Update on #Cryptocurrencies #BITCOIN -1.27% #BITCOINCASH -2.20% #ETHEREUM -1.62% #RIPPLE +1.59% #LITECOIN -1.11%
  • $EURUSD continuing to catch resistance from the 1292 level, working on its sixth consecutive week. This week has, so far, brought on a higher-high, but can bulls continue to drive? $USD breakdown potential the key for whether or not EUR/USD can push up for a re-test 1500 https://t.co/6MeQmEpluO
  • Hey traders! Market risk appetite is highly concentrated. What are some other market highlights for today? Find out 👇 https://t.co/ebfF9W6nCU
EUR/JPY Technical Analysis: Euro May Rebound vs. Yen

EUR/JPY Technical Analysis: Euro May Rebound vs. Yen

2014-08-07 23:34:00
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: 136.22, 135.68-89, 134.96
  • Resistance:136.58, 137.13, 137.65

The Euro remains under pressure against the Japanese Yen, issuing the lowest daily close since November 2013. A break below the February 4 low at 136.22 initially exposes the 135.68-89 area, marked by a falling channel floor and the 38.2% Fibonacci expansion. Emerging signs of positive RSI divergence warn of ebbing downward momentum and hint a bounce may be ahead however. A reversal back above the 23.6% level at 136.58 opens the door for a test of the 14.6% Fib at 137.13.

Risk/reward considerations argue against entering short with prices trading in close proximity to support. On the other hand, the absence of a defined bullish reversal signal suggests taking up the long side is premature. We will remain flat for now.

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

EUR/JPY Technical Analysis: Euro May Rebound vs. Yen

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.