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
Wall Street
Mixed
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
More View more
Real Time News
  • RT @FinancialJuice: US DEMOCRAT HOUSE MAJORITY LEADER HOYER: THE BIDEN AGENDA FRAMEWORK DEAL IS POSSIBLE IN A FEW HOURS.
  • RT @breakingmkts: WYDEN SAYS WILL UNVEIL 'BILLIONAIRES TAX' ON WEDS: PUNCHBOWL
  • Good observation https://t.co/ymdup5MWHE
  • $USD support hold, popping up to st resistance just inside of the 94 handle on #DXY next res level 94.17, testing through would be a fresh weekly high next major driver is tomorrow's Durable Goods, expected to come in at a 1.1% contraction https://t.co/ktcm0Jgfta https://t.co/XEWGgohB0x
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.32% 🇬🇧GBP: 0.24% 🇳🇿NZD: 0.15% 🇨🇭CHF: -0.03% 🇪🇺EUR: -0.05% 🇯🇵JPY: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/fizqVmsm19
  • Facebook's buyback plan hasn't compensated for the company's struggles with $FB sliding on the morning, but SPX and Dow have still charged to record highs. DailyFX's @JohnKicklighter discusses earnings, rate decisions, GDP, and risk trends! https://t.co/IPiH7eZ3hg
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.95% France 40: 0.68% FTSE 100: 0.54% US 500: 0.52% Wall Street: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/o3VRkt1sEx
  • Cryptocurrencies have seen another positive start to the week, boosted by risk-on sentiment in markets. Get your market update from @HathornSabin here:https://t.co/CSRjNTsrqY https://t.co/9C5sPdQrmc
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.23% Gold: -1.28% Silver: -2.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DKW4MJ1gFT
  • I guess a $50 billion buyback plan doesn't solve everything... $FB
EUR/JPY Technical Analysis: Support Below 134.00 Pressured

EUR/JPY Technical Analysis: Support Below 134.00 Pressured

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: 133.69, 132.80, 131.52
  • Resistance:135.36, 136.95, 138.41

The Euro turned lower against the Japanese Yen as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 133.69-134.38 area (May 4 low, 23.6% Fibonacci retracement) exposes the 38.2% level at 132.80. Alternatively, move above the 14.6% Fib at 135.36 clears the way for a test of the May 18 high at 136.95.

Prices are too close to support to justify entering short from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests that taking up the long side is premature. With that in mind, we will remain flat for now.

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

EUR/JPY Technical Analysis: Support Below 134.00 Pressured

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