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. See our updated Privacy Policy here.

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
Bullish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 86.52%, while traders in France 40 are at opposite extremes with 72.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kphRivbhyv
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.01% Gold: 1.07% Silver: 0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xyCL2CYP7W
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.84% 🇬🇧GBP: 0.82% 🇨🇦CAD: 0.82% 🇨🇭CHF: 0.50% 🇪🇺EUR: 0.39% 🇯🇵JPY: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ibgs9CNXPa
  • Canadian Dollar Forecast: USD/CAD Surge Pulls Back - Loonie Levels https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/21/Canadian-Dollar-Forecast-USDCAD-USD-CAD-Surge-Pulls-Back-Loonie-Levels.html https://t.co/pUUcxN90SS
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.54% US 500: 1.27% FTSE 100: 0.15% Germany 30: 0.12% France 40: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/KEdjrQMxKp
  • Worth keeping in mind that up to 45% of polysilicon used in solar panels comes from Xinjiang
  • According to Politico the US is considering imposing a ban on polysilicon from Xinjiang
  • USD/JPY gives back the advance following the Federal Reserve interest rate decision as the 10-Year US Treasury yield slips to a fresh monthly low. Get your $USDJPY market update from @DavidJSong here:https://t.co/KnAbpYcdTM https://t.co/kKTJbNEyLZ
  • Heads Up:🇷🇺 Unemployment Rate (MAY) due at 16:00 GMT (15min) Expected: 5.2% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2021-06-21
  • ECB's Lagarde says the ECB still has room to cut rates if needed $EUR
EUR/JPY Technical Analysis: Still Holding Short Position

EUR/JPY Technical Analysis: Still Holding Short Position

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/JPY Technical Strategy: Short at 137.12
  • Support: 136.09-22, 134.91, 133.96
  • Resistance:138.02-05, 138.80, 139.75

The Euro may be readying to turn lower against the Japanese Yen anew after putting in a Shooting Star candlestick near the 138.00 figure. Near-term support is in the 36.09-22 area, marked by the February 4 low and the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the intersection of a falling channel floor and the 38.2% level at 134.91. Alternatively, a move above resistance in the 138.02-05 zone (August 1 high, channel top) clears the way for a test of the 38.2% Fibonacci retracement at 138.80.

We sold EURJPY at 137.12, initially targeting 136.22 with a stop-loss to be activated on a daily close above 138.02. The trade narrowly survived being stopped out yesterday and will remain in the position, looking for downward resumption ahead.

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

EUR/JPY Technical Analysis: Still Holding Short Position

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