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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
EUR/JPY Technical Analysis: Trend Line Caps Rebound

EUR/JPY Technical Analysis: Trend Line Caps Rebound

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

Talking Points:

The Euro recoiled downward after testing the boundaries of its three-month down trend against the Japanese Yen. A daily close below the 38.2% Fibonacci expansion at 128.00 exposes the 50% level at 126.85. Alternatively, a push above 130.63 (38.2% Fib retracement, January 26 low, trend line) opens the door for a test of the 50% threshold at 131.79.

We sold EURJPY at 135.25 and subsequently booked profits on half of the position. The remainder of the position remains open to capture any further downward momentum. The stop-loss has been trailed to the breakeven level (135.25).

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 provides forex news and technical analysis on the trends that influence the global currency markets.