Technical Analysis – EURJPY retreats beneath 16-month high; bullish outlook

Posted on August 11, 2020 at 7:09 am GMT

EURJPY has been underperforming in the past two days, testing the red Tenkan-sen line. When looking at the bigger picture the pair has been in a clear bullish tendency since May 6. On the daily chart, prices bounced off the 16-month high of 125.60 but based on the technical indicators, momentum is weakening for a further move higher. The RSI indicator is flattening in the positive region, while the MACD slipped beneath the trigger line above the zero level. If [..]


Technical Analysis – EURJPY maintains a positive trajectory despite pullback

Posted on August 6, 2020 at 2:12 pm GMT

EURJPY continues to dictate an improving picture as the price triumphs above the Ichimoku cloud and the simple moving averages (SMAs). The advancing Ichimoku lines and positively charged SMAs endorse the prevailing uptrend regardless of the latest weakening in the pair. The short-term oscillators mirror the recent deterioration in positive momentum. The MACD, in the positive region, has dipped below its red trigger line, while the RSI deflected off the 70 level and nears the neutral threshold. Moreover, the stochastics [..]


Technical Analysis – EURJPY bulls battling against 200-weekly SMA

Posted on August 4, 2020 at 7:29 am GMT

EURJPY had another constructive week thanks to the ascending trendline that provided strong protection against downside pressures, helping the price to rally towards a 15-month high of 125.19 on Friday. Despite that, the pair could not successfully claim the 125.00 mark as the 200-period simple moving average (SMA) in the weekly chart is blocking the way higher at the same location. Hence, there are some doubts about whether the pair can overcome that line and speed up towards the familiar [..]


Technical Analysis – EURJPY bulls look exhausted, but the trendline is still intact

Posted on July 28, 2020 at 7:18 am GMT

EURJPY has been struggling to retain strength above the 123.75 resistance area over the past three days, and therefore unable to touch the 13-month high of 124.42. Some weakness is visible in momentum indicators, flagging that the pair could face downside pressure in the short-term; the RSI and the Stochastics seem to have found a turning point in the overbought territory, while the MACD has been rising at a softer pace lately. Still, sellers may not take control unless the steep ascending trendline that [..]


Technical Analysis – EURJPY retreats after reaching 7-week high

Posted on July 23, 2020 at 12:33 pm GMT

EURJPY is on the sidelines after it reached a fresh seven-week high around 124.28 and it looks ready for a possible pull back. Technically, the RSI is returning lower after it climbed to the overbought zone, while the stochastic is heading south, both hinting for a downside retracement in the very short-term. Despite those signals, the short-term simple moving averages and the Ichimoku indicator are still suggesting an upside tendency. Immediate support to further declines may be taking place around [..]


Technical Analysis – EURJPY ticks up near 6-week high below 123.00

Posted on July 22, 2020 at 12:20 pm GMT

EURJPY is extending its upward six-week rally near the 123.00 handle. The price is standing above the 23.6% Fibonacci retracement level of the up leg from 114.40 to 124.42 at 122.06, remaining above the 20- and 40-day simple moving averages (SMA). Technically, the MACD oscillator is strengthening its momentum above its trigger and zero lines, while the RSI is approaching the overbought territory, suggesting more gains. If the pair continues to tick higher, the 13-month high of 124.42 could be [..]


Technical Analysis – EURJPY rises above uptrend line in short term

Posted on July 16, 2020 at 12:46 pm GMT

EURJPY has been in an ascending move since June 19 in the short-term, surpassing the 23.6% Fibonacci retracement level of the up leg from 114.40 to 124.45 at 122.08. The short-term bias looks positive as the RSI keeps gaining ground above the 50 level, while the stochastic seems to be making its way up after the bounce off the 20 level. The 122.50 resistance could be a trigger point for steeper bullish action. Even higher, resistance could run towards the [..]


Technical Analysis – EURJPY advances eyeballed; positive momentum suspended

Posted on July 14, 2020 at 8:21 am GMT

EURJPY is struggling to overcome the region around the 122.00 mark in spite of assisting positive signals. The recent progress from the 200-day simple moving average (SMA) appears postponed just below this constricting 122.00 handle, where the upper Bollinger band is currently located. The gradual inclines in the 100- and 200-day SMAs and the nearing of a bullish crossover of the latter, by the rocketing 50-day SMA, may boost the positive picture in the near-term. Further positive signals are hinted [..]


Technical Analysis – EURJPY pauses its rise in an upward sloping channel

Posted on July 9, 2020 at 9:15 am GMT

EURJPY has been developing within an upward sloping channel over the last couple of weeks, surpassing the simple moving averages (SMAs) in the 4-hour chart. However, the technical indicators are losing some momentum. The RSI is pointing south near 50 level, while the MACD is moving sideways above the zero line. A pull back may meet immediate support around the 20-period SMA currently at 121.45 while slightly lower the bears could try to touch the 121.30 support. Should the price [..]


Technical Analysis – EURJPY bulls keep the lead; need to clear 122.00 first

Posted on July 7, 2020 at 7:24 am GMT

EURJPY has been showing full compliance to the supportive ascending trendline since the rebound near the 200-day simple moving average (SMA), with the price rising as high as 121.95 on Monday. While there is still some way to go towards June’s peak of 124.42, the momentum indicators suggest that the bulls may not give up efforts in the short-term; the RSI is comfortably strengthening above its 50 neutral mark, while the MACD, within the positive area, is ready to move [..]

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