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
Bullish
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
Oil - US Crude
Bullish
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
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
GBP/USD
Bullish
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
USD/JPY
Bearish
More View more
Real Time News
  • 🇲🇽 Unemployment Rate (SEP) Actual: 5.1% Expected: 5.3% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2020-10-21
  • 🇺🇸 MBA Mortgage Applications (16/OCT) Actual: -0.6% Previous: -0.7% https://www.dailyfx.com/economic-calendar#2020-10-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.67%, while traders in EUR/USD are at opposite extremes with 71.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SuyI0wMhaq
  • Heads Up:🇺🇸 MBA Mortgage Applications (16/OCT) due at 11:00 GMT (15min) Previous: -0.7% https://www.dailyfx.com/economic-calendar#2020-10-21
  • Heads Up:🇲🇽 Unemployment Rate (SEP) due at 11:00 GMT (15min) Expected: 5.3% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2020-10-21
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/yXomAftdv8 https://t.co/GNUYwiesiM
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 1.55% Gold: 0.60% Oil - US Crude: -1.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zeXG8lHCy0
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.81% 🇳🇿NZD: 0.72% 🇯🇵JPY: 0.64% 🇨🇭CHF: 0.29% 🇪🇺EUR: 0.23% 🇨🇦CAD: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Au6kbo4WXL
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.08% Wall Street: -0.00% Germany 30: -0.86% France 40: -1.12% FTSE 100: -1.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/pNZcZ7hQkI
  • Heads Up:💶 ECB Guindos Speech due at 10:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-21
EUR/JPY Technical Analysis: Waiting for Direction Cues

EUR/JPY Technical Analysis: Waiting for Direction Cues

2015-06-23 01:25:00
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: 137.51, 135.33, 133.56
  • Resistance:140.15, 141.50, 142.69

The Euro continues to wait for directional guidance against the Japanese Yen as prices tread water above the 137.00 figure. Near-term support is at 137.51, the 23.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 38.2% level at 135.33. Alternatively, a move above the 14.6% Fib at 140.15 opens the door for a challenge of the 23.6% expansion at 141.50.

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: Waiting for Direction Cues

--- 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