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.

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
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
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
  • Double top looking more plausible in the #SPX500, hinting a significant risk-off move is brewing across the broader markets. Confirmation on a daily close below 3198-3231 area, it seems #SP500 #stocks #technicalanalysis https://t.co/bhHZtJyoMN
  • Heads Up:🇨🇳 Communist Party Annual Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-28
  • The British Pound, Australian Dollar and US Dollar may all experienced heightened periods of volatility as geopolitical risks in North America, Asia and Europe rattle global financial markets. Get your $GBPUSD market update from @ZabelinDimitri here:https://t.co/0EFToM5Y8I https://t.co/JcOmMXJs1l
  • RT @KyleR_IG: European indices and EUR/USD taking a spill on reports that the French Government is set to announce a new 1-month and countr…
  • $Silver looking vulnerable as it fails to clamber back above the 50-DMA (24.51) Break below $24 would probably validate the Bear Flag continuation pattern and could see price push back towards the psychologically imposing $20 mark $SLV $SLVR https://t.co/SJ7i4yN1W1 https://t.co/CjHod2aN8O
  • $EURUSD plunging lower on news that French President Emmanuel Macron is expected to announce a 1-month nation-wide lockdown https://t.co/Jj3BUxZeyw https://t.co/WCAbxg6TDZ
  • The New Zealand Dollar may continue to outperform the haven-associated US Dollar as price breaks above key long-term resistance. Get your $NZDUSD market update from @DanielGMoss here:https://t.co/D1DxtDkJXd https://t.co/jJ1SKMjVKU
  • Market snapshot: #USD pointing higher vs G10 counterparts, particularly oil-linked NOK. Equity futures falling
  • Full article on their report today can be found here - https://www.dailyfx.com/forex/market_alert/2020/10/27/Nasdaq-100-Outlook-Steadied-as-Microsoft-Beats-Earnings-Expectations.html
  • RT @RiskReversal: .@GuyAdami & @RiskReversal are back with The Macro SetUp by @IG_US We discuss recent & expected volatility into & out of…
EUR/JPY Technical Analysis: Sideways Trade Continues

EUR/JPY Technical Analysis: Sideways Trade Continues

2015-06-10 02:55:00
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: 138.86, 136.95, 135.33
  • Resistance:141.20, 142.55, 144.73

The Euro is treading water against the Japanese Yen having advanced to a five-month high above the 141.00 figure. A daily close below the 14.6% Fibonacci retracementat 138.86 exposes the 136.95-137.51 area (May 18 high, 23.6% level). Alternatively, a reversal above the 14.6% Fib expansion at 141.20 clears the way for a test of the 23.6% threshold at 142.55.

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 short side is premature. We will remain flat for now, waiting for an actionable opportunity to present itself.

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

EUR/JPY Technical Analysis: Sideways Trade 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