Trade Successfully
EUR/JPY near-term momentum turns north but remains below downtrend line. EUR/JPY has struggled near the 38.2% Fibonacci retracement level of the up-leg from 124.90 to 133.10, around the 130.00 level and over the last couple of hours edged higher, touching the 20-simple moving average (SMA) in the 4-hour chart. The positive
Read More
EUR/JPY loses ground in ascending sloping channel. EUR/JPY edges lower over the last couple of hours, sliding below the 20- and 40-simple moving averages’ (SMA) bearish crossover. The upside momentum appears to have run out of steam as prices have been attempting and failing to close above the 133.10 high in
Read More
EUR/JPY struggles below a 5-month high of 133.10; upward sloping channel holds. EUR/JPY is looking more neutral over the last 4-hour sessions as prices climbed towards last week’s 5-month high of 133.10 on Tuesday. However, the aforementioned top has been acting as resistance, hence the upside momentum appears to have run out of steam
Read More
EUR/JPY slips below 2-month high; remains bullish in the near-term. EUR/JPY created a higher high earlier today, posting a fresh two-month peak of 131.67. Currently, the price is moving above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, indicating a possible upside extension. However, the technical indicators have lost their
Read More
EUR/JPY stands above SMAs but turns negative in the near-term. EUR/JPY has been trading sideways after the drop below the 129.97 resistance level, which currently acts as a major obstacle for the bulls. Currently, the price is moving above the 20- and 40-simple moving averages (SMA) in the 4-hour chart, indicating a possible
Read More
EUR/JPY lacks clear direction in near-term; drops below 129.00. EUR/JPY has been moving sideways since the soft rebound on the 128.50 support level in a previous couple of days. Currently, the price is moving sharply lower, below 129.00, and is standing below the 20- and 40-simple moving averages (SMAs) in the 4-hour
Read More
EUR/JPY steep rally stalls but remains within an ascending channel. EUR/JPY rallied considerably, breaking above the Ichimoku cloud, after reaching 2 ½ -month lows at 124.89 on August 15. On Wednesday, though, the rally somewhat stalled, with the RSI in the 4-hour chart suggesting that weakness could persist in the short-term; the RSI
Read More
EUR/JPY finds support near 38.2% Fibonacci; indicators signal further losses in the short-term. EUR/JPY rallied aggressively on Tuesday, momentarily surpassing the 128.00 psychological level and roughly 1.0% on the day to pause the previous downtrend movement. However, some technical indicators continue to send bearish signals, suggesting that the strengthening of the market may be over soon. The RSI and the stochastics have both
Read More
EUR/JPY tumbles near a 1-month low; could weaken further. EUR/JPY has come under renewed selling pressure today after it found resistance at the 129.46 level. The price tumbled below the 20-simple moving average (SMA) in the 4-hour chart, indicating further losses. The technical indicators are confirming the strong bearish bias. Looking at
Read More
EUR/JPY turns bullish in the short-term after strong sell-off. EUR/JPY has enjoyed an aggressive buying interest over the last two consecutive days following the rebound on the 129.10 support level, which stands near the 38.2% Fibonacci retracement level of the up-leg from 124.60 to 131.97. Having a look at the 20- and 40- simple
Read More