Technical Analysis – EURJPY falls back to lower end of range; decline loses momentum

Posted on November 22, 2017 at 10:43 am GMT

EURJPY has fallen back down to the lower end of its 2-month range. The pair is in a bearish phase in the short-term but neutral in the medium term, trapped between 131.50 and 134.50 since late September. The sharp drop from the November 15 high of 133.87 appears to have become exhausted and the market looks a little oversold. But since RSI has not quite reached below the 30 (oversold) line there is room for further weakness towards 131.50 and [..]


Forex Market Review (Asian Session) – Euro drifts lower as German elections loom; dollar recovers despite tax risks

Posted on November 20, 2017 at 8:57 am GMT

The euro was the worst performer among its major peers on Monday after German negotiations to form a coalition government broke down during the weekend. Consequently, the dollar index jumped on the news, but the yen might attract investors’ attention this week as the future of the US tax overhaul is still unclear. The German Chancellor, Angela Merkel, failed to meet the second deadline to form a three-way coalition government during the weekend after the liberal FDP party announced on late Sunday that it would pull [..]


Forex Market Review (European Session) – Dollar and stocks falter; euro and yen shine

Posted on November 15, 2017 at 3:48 pm GMT

Markets remained in risk-off mode in European trading on Wednesday, with risk assets coming under pressure while safe-havens flourished. The US dollar extended its losses against the yen despite another batch of solid data out of the United States today. The euro rallied to a one-month high against the greenback, but the pound remained range-bound. The yen was the day’s strongest currency, though its driver was not the upbeat third quarter GDP figures released in Japan earlier in the day [..]


Technical Analysis – EURJPY is neutral in the medium term; short-term bullish phase still intact

Posted on November 15, 2017 at 11:15 am GMT

EURJPY is neutral in the medium term but in a shorter time frame the pair is in a bullish phase. The market has been consolidating gains made after a rally took EURJPY to the mid-134 handle, the highest level since November 2015. Since the end of September, prices have been moving sideways in a range with strong support in the mid-131 area. On the 4-hour chart, EURJPY bounced off the range-low and rose towards the top of the range, reaching a [..]


Forex Market Review (European Session) – Euro jumps to 3-week high on upbeat GDP; pound slips on inflation miss

Posted on November 14, 2017 at 3:40 pm GMT

The euro enjoyed its strongest daily gain in a month as upbeat GDP numbers out of Europe lifted sentiment for the region. The pound came under pressure though after UK inflation missed expectations, while the US dollar remained below session highs despite US producer prices rising more than anticipated. Stronger-than-expected growth in Europe’s largest economy during the third quarter set the tone for today’s European session as investors were once again drawn to the improving outlook for the region. German [..]


Technical Analysis – EURJPY holds neutral trend; near-term bias tilted to downside

Posted on November 8, 2017 at 10:16 am GMT

EURJPY holds a neutral trend in the medium term as it has been trading within a range during the past 7-weeks. The market is currently trading at the lower end of this range with an intra-day bias that is tilted to the downside. A break below 131.50 would turn the focus to the downside to target the September 15 low of 130.60. The next support is expected at 129.36 and 127.55. Only a move above 132.40 would ease immediate downside pressure. Resistance [..]


Forex Market Review (European Session) – Dollar and pound bolstered by upbeat data ahead of rate decisions

Posted on November 1, 2017 at 3:30 pm GMT

The prevailing risk-on mood ahead of key risk events in the next few days lifted the US dollar and weakened the yen in European trading on Wednesday. Upbeat economic data also boosted the greenback along with the British pound. The aussie and kiwi were other notable gainers, while the euro joined the yen in being the day’s worst performers. Manufacturing PMI out of the UK was the main data release in Europe. The index rose from an upwardly revised 56.0 [..]


Technical Analysis – EURJPY risk tilted to the upside in short run; broader neutral trend intact

Posted on November 1, 2017 at 9:24 am GMT

EURJPY is firmer after the bounce up earlier this week following a sharp fall from highs not seen since late 2015. The cross continues to benefit from strong upside momentum in the short term. Looking at the broader trend, the market has been neutral since mid-September. The level at 131.45 has provided strong support. Soft support is expected at yesterday’s low of 132.31, which will keep risk to the upside if it holds during the next few sessions. EURJPY needs [..]


Forex Market Review (European Session) – Euro slips as ECB halves QE but keeps it open ended; dollar firms on reports Yellen is out of Fed race

Posted on October 26, 2017 at 2:54 pm GMT

The euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 yen level amid reports that incumbent Fed chief Janet Yellen was out of the race to lead the central bank. The European Central Bank announced it is extending its asset purchase program (APP) for [..]


Technical Analysis – EURJPY near-term bias shifts to the upside; bullish short-term signals

Posted on October 25, 2017 at 8:55 am GMT

EURJPY holds a neutral intraday bias as prices consolidate in the upper 133 handle after a rebound from 131.65 (October 16 low). More upside is possible since a bullish signal was given by the crossover of the Tenkan-sen line above the Kijun-sen line on the 4-hour chart last week and prices are currently trading above these lines. In the bigger picture, EURJPY was consolidating after peaking at 134.40 on September 22. The Ichimoku cloud on the 4-hour chart was moving [..]

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