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: Aiming Below 140.00 Figure

EUR/JPY Technical Analysis: Aiming Below 140.00 Figure

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: 139.52, 138.16, 137.06
  • Resistance:140.36, 141.72, 142.93

The Euro looks appears vulnerable to deeper losses against the Japanese Yen, with prices now aiming below the 140.00 figure. A daily close below the 23.6% Fibonacci expansionat 139.52 exposes the 38.2% level at 138.16. Alternatively, a reversal above the 14.6% Fib at 140.36 opens the door for a test of the January 8 high at 141.72.

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 and wait for a more actionable opportunity to present itself.

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

Daily Chart - Created Using FXCM Marketscope

--- 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