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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.32% Gold: 0.79% Oil - US Crude: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XrFcwZnnix
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/sNccrLBlhH
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.01% 🇪🇺EUR: -0.03% 🇦🇺AUD: -0.26% 🇳🇿NZD: -0.44% 🇬🇧GBP: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/z7VcGOqJws
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.07% Wall Street: 0.06% Germany 30: 0.00% France 40: -0.05% FTSE 100: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/m5r5lzDOiH
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/jGgo0gCRAn
  • 🇬🇧 Retail Sales YoY (MAY) Actual: 24.6% Expected: 29% Previous: 42.4% https://www.dailyfx.com/economic-calendar#2021-06-18
  • 🇬🇧 Retail Sales ex Fuel YoY (MAY) Actual: 21.7% Expected: 27.3% Previous: 37.7% https://www.dailyfx.com/economic-calendar#2021-06-18
  • Heads Up:🇬🇧 Retail Sales ex Fuel YoY (MAY) due at 06:00 GMT (15min) Expected: 27.3% Previous: 37.7% https://www.dailyfx.com/economic-calendar#2021-06-18
  • Heads Up:🇬🇧 Retail Sales YoY (MAY) due at 06:00 GMT (15min) Expected: 29% Previous: 42.4% https://www.dailyfx.com/economic-calendar#2021-06-18
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/PJi30TbrBq https://t.co/KtYb33lXQH
EUR/JPY Technical Analysis: Cautious Recovery Continues

EUR/JPY Technical Analysis: Cautious Recovery Continues

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: 127.63, 126.08, 124.79
  • Resistance:128.58, 130.13, 131.38

The Euro is advanced for a fourth consecutive day against the Japanese Yen but failed to clear resistance below the 129.00 figure. Near-term resistance is at 128.58, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 38.2% level at 130.13. Alternatively, turn below the 14.6% Fib at 127.63 opens the door for a challenge of the April 14 low at 126.08.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside 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: Cautious Recovery Continues

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