EUR/JPY's sharp fall from 114.17 and break of 111.00 minor support suggests that rebound form 108.70 has completed and intraday bias is flipped back to the downside for retesting 108.70 first. On the upside, above 114.17 will bring another rebound
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EUR/JPY's sharp fall from 114.17 and break of 111.00 minor support suggests that rebound form 108.70 has completed and intraday bias is flipped back to the downside for retesting 108.70 first. On the upside, above 114.17 will bring another rebound
EUR/JPY is possibly regaining medium term down side momentum too. Break of 105.42 will target 61.8% projection of 139.21 to 105.42 from 123.31 at 102.42 first
The EUR/JPY notched a fresh 3-week high just underneath 117.50 within the last hour, after a better-than-expected US manufacturing report helped to put risk back on the table. The pair was unable to extend past that key resistance level however, and has since consolidated towards the prior high of 117.30.
the pair and as we can see from the chart has closed it's daily candle under the level of 112.00 , so , that's mean the down trend is still standing and the pair is heading to 111.70 then 111.40
A short-selling position at 110.80 with a stop-loss at 111.20 (-40 pips) and take profit target first at 110.40 (+40 pips) and then 110.00 (+80 pips). (Note: Went down till 110.36)
Strength seen early this morning failed to uphold with current setback from 112.51 high and exposing room for consolidation. Only a lower break below 110.33 support to help garner downside momentum towards lower end of broader consolidation at108.74. On the upside, strong resistance is seen at 114.16.
The EUR/JPY market had a very eventful day on Wednesday as the Greek parliament passed the austerity measures the world had been waiting on. The end result was a doji-shaped candle that looks like a market that doesn’t know where to go
the pair is trading now above the level of 110.00 and that's mean the uptrend is still standing and the pair might continue in it's upmovements heading to 110.50 and then 11080
Look for a fresh medium-term higher low to carve out around 110.00 ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a sustained break below 110.00 concerns.
Further ahead, Nicole Elliot, analysts for Mizuho Corporate Bank, signals the next support level at 109.50. In the unlikely case of a reversal, resistance is placed at 112.30, 112.69 and finally 113.60.