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.

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
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
Gold
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
EUR/JPY Technical Analysis: Euro Down Trend Resuming?

EUR/JPY Technical Analysis: Euro Down Trend Resuming?

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: 135.96, 134.83, 133.91
  • Resistance:136.66, 137.79, 139.11

The Euro may turn lower against the Japanese Yen after prices put in a bearish Evening Star candlestick pattern. Near-term support is at 135.96, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 134.83. Alternatively, a push above the 14.6% Fib at 136.66 opens the door for a challenge of the July 13 high at 137.79.

The available trading range is too narrow to justify entering a trade in line with our long-term Euro outlook from a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.

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

--- 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