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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
EUR/JPY Technical Analysis: Euro Downturn Hinted Ahead

EUR/JPY Technical Analysis: Euro Downturn Hinted Ahead

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: 138.86, 136.95, 135.33
  • Resistance:141.39, 143.95, 146.52

The Euro put in a Shooting Star candlestick, hinting a turn downward against the Japanese Yen may be ahead. Near-term support is at 138.86, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 136.95-137.51 area (May 18 high, 23.6% level). Alternatively, a turn above the 76.4% Fib expansion at 141.39 opens the door for a challenge of the 100% threshold at 143.95.

A Shooting Star candle is indicative of indecision and does not amount to a sufficient-enough reversal signal in its own right without further confirmation. With that in mind, we will remain on the sidelines for now and wait for a more actionable setup 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 provides forex news and technical analysis on the trends that influence the global currency markets.