Skip to content
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
More View more
EUR/JPY Technical Analysis: Euro Advances for Fifth Day

EUR/JPY Technical Analysis: Euro Advances for Fifth Day

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: 142.88, 141.21, 139.54
  • Resistance: 143.92, 144.75, 145.59

The Euro rose for a fifth consecutive day against the Japanese Yen as the rally following last week’s unexpected BOJ stimulus expansion continues. A daily close above the 138.2% Fibonacci expansionat 143.92 exposes the 150% level at 144.75. Alternatively, a turn below the 123.6% Fib at 142.88 opens the door for a challenge of resistance-turned-support at 141.21, the September 19 high.

The available trading range is too narrow to justify a trade on the long or short side from a risk/reward perspective. With that in mind, we will remain on the sidelines for now until a more attractive opportunity presents itself.

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

EUR/JPY Technical Analysis: Euro Advances for Fifth Day

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