Technical Analysis – EURJPY gathers bullish momentum; needs to clear 118.65

Posted on May 26, 2020 at 7:29 am GMT

EURJPY refused to return to the 117.00 area, reversing up instead to recoup the lost ground from the 118.50 peak on Tuesday. Technically, the short-term risk is currently looking positive as the price is trading above its 20- and 50-day simple moving averages (SMAs), while in momentum indicators, the RSI and the MACD are encouraging too as the former is comfortably hovering above its 50 neutral and the latter is gaining strength above its zero and signal lines. Yet, for a meaningful bullish correction [..]


Technical Analysis – EURJPY tackles 118.20 mark after lunging above 200-MA

Posted on May 21, 2020 at 7:40 am GMT

EURJPY’s latest aggressive run recently paused way above the 200-period simple moving average (SMA) at 118.20 after price action achieved footholds from the 115.32 level, on the Ichimoku cloud’s lower band and the 50-period SMA. The pair is in the process of pushing above this point, something also reflected in the now climbing Ichimoku lines. The MACD, deep in the positive region, is barely below its red trigger line looking to move back above it, while the RSI hovers bullishly [..]

Technical Analysis – EURJPY rests near descending line, suggesting upside tendency

Posted on May 19, 2020 at 7:20 am GMT

EURJPY is revisiting the descending trend line, which has been standing since January 16, despite the upside break at the end of March. The bullish picture in the very short-term looks to last for a while longer if prices overcome the critical line and the 40-day simple moving average (SMA). The positive bias in the near term is supported by the strengthening in the momentum indicators. The %K line of the stochastic oscillator has risen sharply near overbought levels after it posted [..]


Technical Analysis – EURJPY risk skewed to the downside; downtrend in place

Posted on May 14, 2020 at 12:11 pm GMT

EURJPY has fully-reversed this week’s gains, pulling back below its simple moving averages (SMA) on the four-hour chart and back into the 115.00 territory. More importantly, the downside correction confirmed another lower high at 116.85, further enhancing the bearish trend which started early this year, and with the RSI falling below its 50 neutral mark, and the MACD entering the negative zone, expectations are for the sellers to keep the upper hand in the short-term. The nearest support to keep [..]

Technical Analysis – EURJPY tackles mid-band to accelerate pullback

Posted on May 12, 2020 at 7:20 am GMT

EURJPY is attempting to conquer the mid-Bollinger band around 116.30 and the nearby 116.51 high after building confidence in the previous few sessions. The positive price action from the freshly formed 3½-year low of 114.423 is also reflected in the short-term technical oscillators. The MACD, while deep into the negative region has pushed above its red trigger line and at the same time the bullish stochastics head for the 80 mark. Moreover, the RSI has risen towards its 50 threshold, [..]

Daily Market Comment – Dollar and stocks crawl higher but markets on alert amid virus spike

Posted on May 11, 2020 at 8:33 am GMT

Dollar gains versus yen, stocks edge up as lockdown easing spurs bets of economic rebound But fears of second virus wave keep risk appetite in check, gold ticks higher Doubts about Trump’s commitment to US-China trade deal adds to subdued tone Safe-haven yen takes a tumble as more economies reopen The US dollar appeared to lose some of its safe-haven allure on Monday as signs of economic life in many parts of the world shifted the focus to the improving [..]


Technical Analysis – EURJPY rebounds on 3½-year low; bearish structure holds

Posted on May 7, 2020 at 12:47 pm GMT

EURJPY has rebounded from the three-and-a-half-year low of 114.40 over the last session, heading higher towards the 20-period simple moving average (SMA) in the 4-hour chart. According to the technical indicators, the RSI is turning higher from the oversold zone, suggesting the end of the bearish action, while the stochastic is heading towards the overbought zone. Looking higher, the next immediate resistance is coming from the 115.40 barrier, which lies near the 20-period SMA. Breaching this critical zone, the market [..]

Daily Market Comment – German ultimatum sinks euro, yen capitalizes

Posted on May 6, 2020 at 8:29 am GMT

Euro crumbles after German courts challenge ECB stimulus Outlook still bleak, this is the last thing the fragile Eurozone needs Stocks trim gains on Fed gloom and Congressional ‘pause’, yen climbs Today: ADP data will give a taste of what’s on Friday’s NFP menu Euro falls apart as Germany challenges ECB The single currency came under heavy fire yesterday, after Germany’s top court ruled that the ECB’s asset purchases were unconstitutional. The judges gave the European Central Bank three months [..]

Daily Market Comment – Wall Street snaps back, but FX not convinced

Posted on May 5, 2020 at 8:48 am GMT

US stocks bounce back on medical headlines, rising oil prices, tech strength But FX market signals caution – yen and dollar hold strong, gold too Are investors piling into tech because of re-opening fears and US-China tensions? Euro suffers after German court decision on ECB asset purchases Stock markets storm higher Wall Street continues to defy economic gravity, with all three major US stock indices recouping early losses on Monday to close higher, brushing aside the simmering tensions between Washington [..]

Technical Analysis – EURJPY back into the bearish area; focus shifts to the 115.00 zone

Posted on May 5, 2020 at 7:36 am GMT

EURJPY has barely improved after the plunge to a 3-year low of 115.43, with the pair erasing on Monday a significant portion of last week’s rally that drove the price as high as 117.76. The price has also pulled back below the middle Bollinger band and the RSI has failed to climb above its 50 neutral mark, both painting a bearish picture for the short-term. Immediate support to additional losses could be the 115.85 level that strongly rejected the bears [..]

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