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
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
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • $AUDUSD dipping in morning APAC trade following a speech from #RBA Governor Guy Debelle He mentioned that an option possibly being considered for other policy prescriptions is to buy bonds 'further out along the curve' (relatively dovish) https://t.co/JXQktfCrj0 https://t.co/Xbyhuuy5b6
  • RBA's Debelle: 'Mixed' empirical evidence on negative rates, TFF increase is substantial easing of monetary policy -BBG #RBA $AUDUSD
  • RBA's Debelle: Lower #AUD would benefit economy, watching closely. FX intervention not effective in current circumstance -BBG $AUDUSD #RBA
  • RBA Deputy Governor Debelle: Reducing yield target, TFF rate possible policy option. RBA continues to assess other policy options -BBG
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/QwmBEeg3A4
  • Heads Up:🇦🇺 RBA Debelle Speech due at 00:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-22
  • Top Chart: Haven US Dollar seen struggling vs #ASEAN currencies (SGD, IDR, PHP, MYR) despite risk aversion Bottom: Despite heavy US risk aversion #SP500, capital still flows into #EmergingMarkets, perhaps keeping these currencies afloat Stay tuned for my next ASEAN fundy! https://t.co/foDO6DGGNn
  • The Nikkei 225 fell beneath 23,000 as it moves to the midpoint of its rising channel. Get your #Nikkei market update from @PeterHanksFX here: https://t.co/zqEZiyD0Lm https://t.co/UxHlEM1Iv0
  • As promised⬇️ "#SP500 Teeters on Precipice as Trump Trails Biden in Swing States" https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/21/SP-500-Teeters-on-Precipice-as-Trump-Trails-Biden-in-Swing-States-.html https://t.co/AsFRCaHL2k
  • Recent pickup in volatility has been boosting the US Dollar Now, my majors-based #USD index seems to have formed a bullish Inverse Head and Shoulders pattern Could this finally be the turning point for the Greenback? Learn more about this pattern here - https://www.dailyfx.com/education/technical-analysis-chart-patterns/head-and-shoulders-pattern.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gTO58ia3qV
Euro Price Forecast: EUR/JPY Struggles to Move in a Clear Direction- How Could This Change

Euro Price Forecast: EUR/JPY Struggles to Move in a Clear Direction- How Could This Change

2019-07-15 10:00:00
Mahmoud Alkudsi, Analyst
Share:

EUR/JPY Price Outlook

  • EUR/JPY Charts and Analysis
  • EUR/JPY price continues its trendless move.

Have you checked our latest trading guides for USD and Gold? Download for free Q3 Main Currencies and Commodities Forecasts

EUR/JPY– Buyers Failed Attempt

On July 8, EUR/JPY opened with an upward gap then rallied on Wednesday to its highest level in a week, however the pair slipped back below 122.00 handle and closed with a bearish Doji pattern, signaling the weakness of the buyers to keep rallying the price.

Alongside, the Relative Strength Index (RSI) pointed higher, although; failed to cross above 50 indicating the buyer’s lack of momentum to kick start uptrend move.

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

EUR/JPY DAILY PRICE CHART (DEC 1 , 2016 – JUl 15, 2019) Zoomed OUT

EUR/JPY price daily chart 15-07-19 Zoomed out

EUR/JPY DAILY PRICE CHART (April 7, 2019- JUL 15, 2019) Zoomed IN

EUR/JPY price daily chart 15-07-19 Zoomed in

Looking at the daily chart we notice at the start of July, EUR/JPY stuck in tight trading zone 122.52- 121.25, and since July 3 the pair failed to test any of the high or the low end of this zone.

Thus, a close below the low end of the aforementioned trading zone may press the price towards 119.78, although the weekly support zone and levels marked on the chart (zoomed in) need to be watched along the way.

In turn, a close above the high end of the trading zone could cause the price to rally towards 124.40, however, the weekly resistance zone and levels underlined on the chart (zoomed in) would be worth monitoring.

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

EUR/JPY Four-HOUR PRICE CHART (June 20, 2019 – JUL 15, 2019)

EUR/JPY price four- hour chart 15-07-19

Looking at the four-hour chart we notice on July 3, EUR/JPY rebounded from 121.31 (weekly low) therefore, a break below this threshold would lead the price to print its lowest level in nearly four weeks and could send the price towards the June 21 low at 120.95, contingent on clearing the weekly support at 121.25. See the chart to know more about the next significant support if the selloff continues below mentioned levels.

On the other hand, we notice on July 5, EUR/JPY started a short uptrend creating higher highs with higher lows, however this uptrend stalled on July 10 at 122.32 (weekly high) hence, a break above this high might activate this uptrend and could send the price towards 123.00, however; the vicinity at 122.52-54 should be kept in focus.

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