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
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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • - #USDollar eyes #Powell second Congressional testimony - What were some of the key takeaways from his outlook? - Stock markets cautiously eye shaky US-China #trade talks https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/14/US-Dollar-Stocks-Eye-Powell-Testimony-as-Trade-Talks-Stumble.html https://t.co/gKJr3DpVOO
  • AUD/USD, USD/CAD, EUR/USD Price Trend Outlook in Positioning $AUDUSD $USDCAD $EURUSD - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/14/AUDUSD-USDCAD-EURUSD-Price-Trend-Outlook-in-Positioning.html?CHID=9&QPID=917702 https://t.co/1i334MvltQ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.56%, while traders in France 40 are at opposite extremes with 85.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cCz4harA5v
  • My trade video for today: ' Dow and Emerging Market Divergence a Warning, Trade Wars Outshine Powell Testimony' https://www.dailyfx.com/forex/video/daily_news_report/2019/11/14/Dow-and-Emerging-Market-Divergence-a-Warning-Trade-Wars-Outshine-Powell-Testimony.html?CHID=9&QPID=917719 https://t.co/ktgLIKeW5s
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.10% 🇨🇭CHF: -0.01% 🇨🇦CAD: -0.09% 🇬🇧GBP: -0.13% 🇳🇿NZD: -0.34% 🇦🇺AUD: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qc85e1c3xH
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% France 40: 0.03% Wall Street: 0.02% US 500: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NUCz05xYNI
  • The $AUD appears to have resumed the dominant downtrend against its US counterpart after breaking support set from October lows. Get your $AUDUSD market update from @IlyaSpivak here:https://t.co/DW5oWIuMaX https://t.co/RYoyvGvkOd
  • Since late July, the economic news flow from Australia has been increasingly out-performing relative to economists’ expectations. -Citi #AUD
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (SEP), Actual: 1.8% Expected: 1.1% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2019-11-14
  • Trade deal bets kept the Singapore Dollar, Philippine Peso, Indonesian Rupiah and Malaysian Ringgit afloat despite $USD strength. This is the key fundamental driver for #ASEAN FX.Get your market update from @ddubrovskyFX here: https://t.co/aB8qP3JsB4 https://t.co/lLPkHZkj4n
EUR/JPY, USD/JPY Price Outlook: Paused Downtrend Move

EUR/JPY, USD/JPY Price Outlook: Paused Downtrend Move

2019-08-19 10:03:00
Mahmoud Alkudsi, Market Analyst
Share:

EUR and USD Price Forecast

See Our latest trading guides for free and discover what is likely to move the markets through Q3 of this year.

USDJPY, EURJPY Price Action

Last week Euro declined against Japanese Yen. EUR/JPY tumbled to its lowest level in 28 monthsat 117.51, then closed the weekly candlestick with only 0.3% loss. In turn, US Dollar firmed slightly leading USD/JPY to close with 0.6% gain. This week, both pairs opened with an upward gap.

The Relative Strength Index (RSI) abandoned the oversold territory and climbed to 41 on EURJPY and on USDJPY then remained flat after reflecting the market indecision at this stage, with the seller’s loss of momentum and the buyer’s inability to lead the price.

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

EUR/JPY Daily PRice CHART (Jan 1, 2017 - AUG 19, 2019) Zoomed Out

EURJPY price daily chart 19-08-19 Zoomed out

EUR/JPY Daily Price CHART (JUNE 4 - AUG 19, 2019) Zoomed in

EURJPY price daily chart 19-08-19 Zoomed in

Looking at the daily chart we notice on August EUR/JPY failed to close above the high end of current trading zone 117.30 – 119.78. Since then the pair has been trading ineffectively.

Thus, any close below the low end could resume bearish price action and send EURJPY towards 114.80. Although, the weekly support levels underscored on the chart (zoomed in) need to be considered. See the chart to know more about the lower trading zone with the weekly support levels the price would face below 114.80.

On the flip-side, the pair needs to clear the daily resistance levels underlined on the chart before rallying for a test of the high end of the zone. Any close above the high end could push EURJPY towards 121.25. However, the weekly resistance levels would be worth monitoring.

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

USD/JPY Daily PRice CHART (JULY 18, 2017– AUG 19, 2019) Zoomed Out

USDJPY daily chart price 19-08-19 Zoomed out

USD/JPY Daily PRice CHART (MAy 1 – AUG 19, 2019) Zoomed In

USDJPY daily chart price 19-08-19 Zommed in

Looking at the daily chart we notice on Tuesday USD/JPY rebounded nearby 107.00 handle, since then the pair settled in the same old trading zone 105.50 -107.30.

The price needs to clear the daily resistance area marked on the chart (zoomed in) before testing the high end of the zone. Any close above the high end could push USDJPY towards 108.61. Although, the weekly area and levels underlined on the chart should be kept in focus.

On the other hand, any failure in closing above the high end of current trading zone could send the price towards the low end. Further close below the low end may press USDJPY towards 104.77. Nonetheless, the daily support area marked on the chart needs to be watched closely.

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

News & Analysis at your fingertips.