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EUR/JPY fairly bearish; holds below 2-month high near 132.00. EUR/JPY started an aggressive bearish rally today after it reached a two-month high of 131.97 on Tuesday. The sharp sell-off creates a new structure of downward correction in the pair as it also fell below the 20-day simple moving average (SMA) in the near-term. The
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EUR/JPY advances above SMAs but trades below a 7-week high. EUR/JPY has advanced considerably over the last three weeks after the rebound on the 126.60 support level. During yesterday’s trading session, the pair hit a fresh seven-week high of 130.75 and then plummeted until the 20-simple moving average (SMA) in the
Read MoreEUR/JPY struggles to jump above the medium-term falling trend line. EUR/JPY has declined over the past couple of days as the price struggled to jump above the 38.2% Fibonacci retracement level of the down-leg from 137.50 to 124.60. Also, the pair is still developing below the medium-term ascending trend line, which has
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EUR/JPY in neutral bias after climbing above 23.6% Fibonacci mark. EUR/JPY holds above the 23.6% Fibonacci retracement level of the down-leg from 137.50 to 124.60, around 127.65 in the 4-hour chart but lost its strong momentum from yesterday. From the technical point of view, the momentum indicators are supportive of the short-term neutral
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EUR/JPY rises to 23.6% Fibonacci level after sharp sell-off. EUR/JPY pared some of Tuesday’s losses and re-challenged the 23.6% Fibonacci retracement level of the down-leg from 137.50 to 124.60, around 127.65. The momentum indicators are supportive of the short-term bullish correction, with the RSI flattening into negative, the MACD oscillator approaching the trigger line, while stochastic
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FOMC rate hike enacted In yesterday’s American session, the FOMC hiked its interest rate by 0.25% reaching +2.00%, as was expected. Also, the dot plot changed implying 2 more hikes could be expected (probably September and December) in 2018. Overall there was neutral to hawkish tone in the accompanying statement and
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EUR/JPY remains neutral above 38.2% Fibonacci level. EUR/JPY has struggled above the 38.2% Fibonacci retracement level of the down-leg from 137.50 to 124.60, around 129.50 and below the 130.30 resistance level since Tuesday’s trading session. The sharp buying interest, especially in the previous week, has shifted the near-term bias from negative
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Eurozone’s common currency finished 2017 on a strong note versus the US dollar, advancing by 14.1% to render itself the best performing major currency. Largely euro-friendly election outcomes and economic data pointing to an ever-improving growth outlook were instrumental for the euro’s strong performance. The current year, though, is presenting
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EUR/JPY rises to 2-week high, looks strongly bullish. EUR/JPY has been recording a stunning rally over the last five days, creating a new two-week high of 129.57. The sharp buying interest has shifted the near-term bias from negative to positive. Also, the momentum indicators are supportive of the bullish picture. From the
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EUR/JPY pares strong losses; eases from an 11-month trough. EUR/JPY steadied on Wednesday after an aggressive bearish rally in the previous six days. The common currency created an eleven-month low of 124.60 against the Japanese yen on Tuesday, while the price is paring some of the losses over the last couple of hours. The momentum indicators
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