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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/S9CEcBm5Qe https://t.co/VNQpG1CUVM
  • $AUDUSD price action strikingly similar to that seen in 2002 - Break above the 1997 downtrend ignited a 106% surge, eventually peaking in July 2008 (0.9850) - Consolidation above downtrend preceded upside push - Bullish RSI divergence appears to signal cyclical upturn https://t.co/j3IumVbAlB
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Expected: 86.9 Previous: 83.8 https://www.dailyfx.com/economic-calendar#2020-09-28
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Expected: 76.2 Previous: 74.4 https://www.dailyfx.com/economic-calendar#2020-09-28
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.83%, while traders in EUR/GBP are at opposite extremes with 64.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MQNUIOEuMx
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.42% 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.21% 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.04% 🇨🇭CHF: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ta4Cy97vbC
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.56% France 40: 1.56% FTSE 100: 1.23% Wall Street: 0.47% US 500: 0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lA0TK0OTZQ
  • #ASX200 struggling to break above key resistance at 6000 after Westpac retracted its calls for an #RBA rate cut in October RSI hints at fading bullish momentum which suggests that a push towards the monthly low is on the cards, if 200-MA resistance (6020) remains intact. $XJO https://t.co/iXrCqbayfc
  • $AUDJPY poised to move higher after finding support at the 200-day moving average. $CADJPY eyeing a push back towards the yearly high $EURJPY perched atop key support after breaking below Rising Wedge support. Are further losses in the offing? $JPY https://www.dailyfx.com/forex/market_alert/2020/09/28/Japanese-Yen-Outlook-AUDJPY-CADJPY-EURJPY-Levels-To-Watch-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/v03Ge14yvW
  • Gold price vs. US Dollar Index (DXY) -52 weeks https://t.co/VuZTTnNxmm
Euro Price Forecast: EUR/JPY Stuck in a Trendless Move – Levels to Consider

Euro Price Forecast: EUR/JPY Stuck in a Trendless Move – Levels to Consider

2019-07-08 08:00:00
Mahmoud Alkudsi, Analyst
Share:

EUR/JPY Price Outlook

  • EUR/JPY Charts and Analysis
  • EUR/JPY price action during the last week.

Have you checked our latest trading guides for Euro and US Dollar? Download for free Q3 Main Currencies and Commodities Forecasts

EUR/JPY– Trading in a Sideways Pattern

On July 2, EUR/JPY rebounded nearby the level highlighted on our previous update at 122.52 and continued trading in a sideways pattern.

Alongside, the Relative Strength Index (RSI) pointed lower crossing below 50 then remained flat around 45 negating any effective momentum from the buyers nor the sellers.

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

EUR/JPY DAILY PRICE CHART (Jan 25, 2017 – JUl 8, 2019) Zoomed OUT

EUR/JPY Price Daily Chart 8-07-19. Zoomed out.

EUR/JPY DAILY PRICE CHART (Mar 7, 2019- JUL 8, 2019) Zoomed IN

EUR/JPY Price Daily Chart 8-07-19 Zoomed in

Looking at the daily chart we notice on last Monday EUR/JPY slipped to a lower trading zone 121.25 – 122.52 eying a test of the low end. Therefore, a break to the low end may pave the way to the price towards 119.78, nonetheless; the weekly support levels underlined on the chart would be worth monitoring.

On the other hand, a close above the high end of the aforementioned trading zone could cause a rally towards 124.40, however; the weekly resistance levels highlighted on the chart should be watched along the way.

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

EUR/JPY Four-HOUR PRICE CHART (June 3, 2019 – JUL 8, 2019)

EUR/JPY price 4H Chart 8-07-19

Looking at the four-hour chart we notice on Friday EUR/JPY rebounded from 121.93. Thus, a break above this high may see the price even higher towards 122.52, although; 23.6% fib retracement at 122.15 should be kept in focus.

On the flip-side, we notice today EUR/JPY broke below the July 4 low at 121.53 eyeing 121.25, hence a break below this level could send the price towards the June 3 trough at 120.78, however; the June 21 low marked on the chart needs to be considered.

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.

DISCLOSURES