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
Bullish
Gold
Mixed
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • Understanding the US-Mexico relationship and how the ebb and flow of economic activity in the former impacts the latter is crucial for trading USD/MXN. Get your $USDMXN market update from @ZabelinDimitri and @FxWestwater here:https://t.co/oCRV13zbF0 https://t.co/9VKH7CHB8Y
  • RT @DanielGMoss: $USDCNH: RSI registers oversold reading for the first time since the US-China 'phase one' trade deal in January. $USD $CNH…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.94%, while traders in US 500 are at opposite extremes with 72.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/plFxRXM0uT
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.32% 🇨🇭CHF: 0.18% 🇳🇿NZD: 0.17% 🇦🇺AUD: 0.12% 🇨🇦CAD: 0.07% 🇯🇵JPY: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/7LQ64GzSvX
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/rYkYIIVNQJ
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.47% France 40: 1.18% FTSE 100: 0.78% US 500: 0.20% Wall Street: 0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UJ2NbRFbDk
  • RT @DanielGMoss: Market Snapshot Haven-associated $USD and $JPY notably declining during #APAC trade as the risk-sensitive $AUDUSD and #SP…
  • The Core-Perimeter trading model helps traders understand interactions between global economies, helping to trade the assets embedded in these relationships. Get your market update from @ZabelinDimitri here:https://t.co/dKRAo00lfA https://t.co/jjRBxBZs1z
  • What is the #USD #ASEAN technical road ahead? Check out my latest update below! $USDIDR $USDPHP $USDMYR $USDSGD https://www.dailyfx.com/forex/technical/article/special_report/2020/07/09/US-Dollar-Technical-Outlook-USDIDR-USDPHP-USDMYR-USDSGD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/ByH56TCUdj
  • The US Dollar is pressured as rising coronavirus cases fail to dent 2021 GDP bets. Could the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit rise? Find out from @ddubrovskyFX here:https://t.co/u1qhaIGGoC https://t.co/O2i6DZLkIB
EUR/JPY Technical Analysis: Upside Reversal Hinted Ahead

EUR/JPY Technical Analysis: Upside Reversal Hinted Ahead

2015-01-30 03:45:00
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: 131.48, 129.71, 126.84
  • Resistance:134.77, 137.64, 139.95

The Euro may be readying to move higher against the Japanese Yen after putting in a bullish Morning Star candlestick pattern. Positive RSI divergence reinforces the case for an advance. Near-term resistance is in the 134.13-77 area, marked by the October 16 low and the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 38.2% level at 137.64. Alternatively, a turn below the 14.6% Fib expansion at 131.48 clears the way for a challenge of the 23.6% threshold at 129.71.

Risk/reward considerations argue against entering long with prices in close proximity to resistance. On the other hand, the absence of a defined bearish reversal signal suggests taking up the long side is premature. We will remain flat for now, waiting for a more actionable opportunity to present itself.

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

EUR/JPY Technical Analysis: Upside Reversal Hinted Ahead

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

News & Analysis at your fingertips.