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EUR/JPY added more than 3.0% to its value so far this month, getting closer to the 200-day simple moving average (SMA) that remains untouched over the past year and could play a key role for the rally to keep going. Yet, with the market trading in the crossroads of the key 121.36
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EUR/JPY maintains a positive picture, tackling a key neutral level. EUR/JPY buyers are in the process of re-testing the 120.00 resistance level after a slight correction moved the price beneath it. The Tenkan-Sen line has distanced itself above the Kijun-Sen line indicating that the rally that commenced on October 8 is intact,
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EUR/JPY holds a bull flag near the key resistance area. EUR/JPY picked up steam on Thursday and hit two-week highs above the Ichimoku cloud in the four-hour chart, with the positive momentum in the RSI and the MACD painting a bright picture for the short-term. The area around 118.43, where the 38.2% Fibonacci
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EUR/JPY’s tumble takes a break, temporary halting losses. EUR/JPY seller’s second try only just conquered the 117.43 support, which is the 61.8% Fibonacci retracement of the up leg from 115.85 to 120.00. The pair adopted a brief side move after a sell-off bounced off that level. The flattened 200-period simple moving average (SMA)
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EUR/JPY recovery starts to lose steam; 50-SMA holds strong. EUR/JPY bulls retook control bouncing off the 119.00 handle, which is the 23.6% Fibonacci retracement level of the up-leg from 115.85 to 120.00 and where the restrictive 50-period simple moving average (SMA) also rests. The bears’ multiple attempts to breach below the 50-period
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EUR/JPY in recovery mode but the descending channel holds the “bull flag”. EUR/JPY is prolonging the rebound off the 2 ½-year low of 115.85 as the RSI and the MACD are signaling mounting buying interest, with the former surpassing its 50 neutral level and the latter improving above its signal line. Questions, however,
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EUR/JPY declines below 2017 low; bulls recoup losses. EUR/JPY bulls took back five days of extended losses which stretched below the 2017 low of 116.45, moving the price above the mid-Bollinger band. The momentum indicators also reflect an increase in bullish directional momentum in the very short-term. The MACD has distanced itself
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EUR/JPY rebounds from 2½-year low, but the picture still negative. EUR/JPY hit a new 2½-year low earlier this week at 116.55 but found fresh buy orders and recovered a small portion of its losses. That said, the broader outlook remains negative as the price structure still consists of lower highs and lower lows, while
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EUR/JPY printed a new 2-year low at 117.50 on Monday and despite entering oversold territory the bearish bias has not fully faded yet as the RSI continues to point downwards below 30, the MACD is extending its negative momentum under its red signal line and the red Tenkan-Sen is distancing itself below
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EUR/JPY drops to a 2-year low; fills the gap from April 2017. EUR/JPY fell aggressively, after breaking below the 50-day simple moving average (SMA) and the 120.77 then support, further past the 120.04 inside swing low to a 2-year low of 117.66 in the last week. The move filled the gap from
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