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.

Free Trading Guides
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
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
More View more
Real Time News
  • The latest UK General Election opinion polls continue to show the Conservative Party holding a strong lead over Labour and point to Boris Johnson winning a working majority in Parliament. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/qF04EOUWkI https://t.co/LNl4bXbnpp
  • Recent polls have put Conservatives ahead of Labour and given a boost to $GBP. Get your #Brexit update from @ZabelinDimitri here: https://t.co/l2n53C0cYY https://t.co/oTWfXkaDDt
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/xeromAGqqx
  • Macro data from around the world have long attested to the urgent need for a trade settlement between the US and China. Increasingly the corporate numbers are saying the same. Get your market update from @DavidCottleFX here:https://t.co/Qon7QUO80c https://t.co/rCOG78QQ2M
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your market update from @IlyaSpivak here: https://t.co/4lHhHsby56 $XAUUSD https://t.co/JmZxckVHdS
  • Cable (GBP/USD) remains just off its seven-month high print around 1.3165 as traders start to move to the side lines ahead of next Thursday’s General Election vote. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/CpCh13J9ZH #Brexit https://t.co/PIh6WUqbsK
  • (Weekly Technical Outlook) GBP/USD, EUR/GBP, GBP/JPY, GBP/CAD Outlook as UK Election Looms $GBPUSD $EURGBP $GBPJPY #UKelection2019 - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/07/GBPUSD-EURGBP-GBPJPY-GBPCAD-Outlook-as-UK-Election-Looms.html?CHID=9&QPID=917702 https://t.co/iuILHYczJ7
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/WlEFlluGfZ #tradingstyle https://t.co/TkMtJQKatx
  • By issuing debt denominated in $USD, China is making a long-term bet that it will be cheaper to pay back its loans over time in the US Dollar; it believes the value of the US Dollar will fall. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/xV9urXXf48
  • What are some risk trading management techniques? Find out: https://t.co/RShdlDz9RA #tradingstyle https://t.co/M3ASPIHAep
EUR/JPY Price Outlook: How EURO May Rally against Japanese Yen

EUR/JPY Price Outlook: How EURO May Rally against Japanese Yen

2019-06-24 09:47:00
Mahmoud Alkudsi, Market Analyst

EUR/JPY Price Outlook

  • EUR/JPY Charts and Analysis
  • EUR/JPY buyers might be preparing to take over.

See our guides and find out for free what is likely to move market prices through Q2 from Main Currencies and Commodities Forecasts

EUR/JPY– Sellers hesitation

On June 18 EUR/JPY daily candlestick closed with a long wick indicating to hesitation from the sellers to press the price lower. On the following days hesitation signs continued so the buyers took the initiative on June 21 and rallied the price recovering all the weekly losses.

On June 21 the Relative Strength Index (RSI) pointed higher moving from 35.5 to 45.5 reflecting the weakness in the bearish momentum. It’s worth noting that a cross above 50 indicates to a possible start of an uptrend.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

EUR/JPY DAILY PRICE CHART (FEB 27, 2019- JUN 3, 2019) Zoomed IN

EURJPY Price Daily Chart 24-06-19.PNG Zoomed in

EUR/JPY DAILY PRICE CHART (NOV21, 2016 – JUN24, 2019) Zoomed OUT

EURJPY Price Daily Chart 24-06-19.PNG Zoomed Out

Looking at the daily chart we notice EUR/JPY opened today on an upward gap eying to test 122.52. Any close above this level would move the price to the higher trading zone (122.52 – 124.40) and could send the pair to test the neckline of the double bottom pattern residing at 123.18.

If EUR/JPY breaks and remains above the neckline it could rally towards 124.54 however, the weekly resistance highlighted on the chart need to be kept in focus.

In turn, any failure to close above 122.52 may lead EUR/JPY towards 121.25. Further bearishness might need a close below 121.25. This means the price could head towards 119.78. Although, weekly supports mentioned on the chart need to be watched along the way.

Just getting started? See our Beginners’ Guide for FX traders

EUR/JPY Four-HOUR PRICE CHART (May 16, 2019 – JUNE 24, 2019)

Please add a description for the image.

Looking at the four-hour chart, we notice EU/JPY rebounded from 120.95 on Jun 21. The pair rallied today breaking above 23.6% Fibonacci retracement at 123.15 and could be on course to test the aforementioned neckline.

If EUR/JPY breaks and remains above the neckline, this could start a movement towards the zone from 38.2% Fib retracement at 124.25 up to 124.35. However, the weekly resistance zone highlighted on the chart needs to be considered.

On the flipside, if EUR/JPY breaks below 121.48 it might head to tests the June 3 low at 120.78 contingent on clearing the daily and weekly support levels underlined on the chart. See the chart to know more about the significant supports if the selloff continues below the June 3 low.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.