Forex Analysis for EUR/JPY

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Daily analysis of EUR/JPY for June 1, 2018
Daily analysis of EUR/JPY for June 1, 2018
EUR/JPYSince the demand zone at 125.00 was reached, this cross has been engaged in a relentless effort to rally. The relentless bullish effort has become a threat to the recent bearishness in the market, and once price goes above the supply level at 129.50, the bias would turn completely bullish. A ...
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Global macro overview for 01/06/2018
Global macro overview for 01/06/2018
HICP inflation in Eurozone accelerated from 1.2% to 1.9% on a yearly basis, strongly defeating the market consensus of 1.6%. What's more, core inflation jumped from 0.7 to 1.1% y/y. Such a scenario hung in the air after yesterday's data from Germany and earlier readings, among others from France, wh...
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Elliott wave analysis of EUR/JPY for June 1, 2018
Elliott wave analysis of EUR/JPY for June 1, 2018
Let's start the new month by looking at the long-term chart. The weekly EUR/JPY chart shows the triangle consolidation, we have been tracking for a long time now. This triangle began way back in July 2008 giving us an almost 10 year triangle consolidation. The final leg in this triangle (wave (E)) b...
0
Daily analysis of EUR/JPY for May 31, 2018
Daily analysis of EUR/JPY for May 31, 2018
EUR/JPYOn the EUR/JPY cross, a rally was witnessed yesterday – in the context of a downtrend. The rally is supposed to be a wonderful opportunity to sell short at better prices, as the market could go downwards again. The demand levels at 126.00, 125.50 and 125.00 would eventually be tested.There is...
1
EUR/JPY: bulls are counterattacking
EUR/JPY: bulls are counterattacking
Recommendation: BUY 127.3 SL 126.75 TP1 128.15; TP2 129; TP3 129.15 On the daily chart, EUR/JPY reached 161.8% target of AB=CD. This increases the risks of a pullback to the lower border of the 129.15-132.15 consolidation range. To continue moving down, bears have to renew May low.   On H1, EUR/JPY ...
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Elliott wave analysis of EUR/JPY for May 31, 2018
Elliott wave analysis of EUR/JPY for May 31, 2018
EUR/JPY likely saw the low of wave C and (E) at 124.59 well within the 123.08 - 125.32 range. The following break above minor resistance at 126.44 and more importantly the break above resistance at 126.83 supports that wave (E) likely is complete and a new long-term rally is ready to develop. The fi...
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Daily analysis of EUR/JPY for May 30, 2018
Daily analysis of EUR/JPY for May 30, 2018
EUR/JPYThe initial targets for this week have already been met, and the EUR/JPY cross still has much room to go southwards. As anticipated, there is now a transitory upwards bounce in the market, but price would resume its downwards journey. The next targets are the demand zones at 125.00 and 124.50...
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Technical analysis of EUR/JPY for May 30, 2018
Technical analysis of EUR/JPY for May 30, 2018
The bias of the EUR/JPY pair on the 4-hour chart is still bearish. This has already been spotted by the price move in a downward sloping channel and below moving average. As we see there is a Divergence between the Stochastic Oscillator and the price. Because of this fact, the pair is likely to make...
1
Elliott wave analysis of EUR/JPY for May 30, 2018
Elliott wave analysis of EUR/JPY for May 30, 2018
EUR/JPY is now trading within the expected target-area for the wave (E) between 123.08 - 125.32. This means a long-term low could be found anytime now. That said, the negative sentiment that embraces the EUR at the moment, due to the political situation in Italy, could make the short-term price-acti...
1
EUR/JPY broke support zone
EUR/JPY broke support zone
EUR/JPY broke support zone Next sell target - 124.00  EUR/JPY has been falling sharply in the last few trading sessions and today broke through the support zone lying between the support level 126.00 and the support trendline of the wide daily down channel from February. The breakout of this support...
2
Fundamental Analysis of EUR/JPY for May 29, 2018
Fundamental Analysis of EUR/JPY for May 29, 2018
EUR/JPY has been non-volatile in the impulsive bearish bias after breaking below 129.50 area with a daily close. Though EUR has not been affected recently by negative economic reports, certain gain on the JPY side is explaining the strength of market sentiment.Recently, Japan's SPPI report was publi...
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Elliott wave analysis of EUR/JPY for May 29, 2018
Elliott wave analysis of EUR/JPY for May 29, 2018
The rally from 127.11 became much smaller than we expected and the following break back below 127.11 shifted our count back to the prior preferred count calling for a decline to 125.32 before a possible low of the wave C and (E) is in place. Short-term resistance is seen at 127.28 and a clear break ...
2
Daily analysis of EUR/JPY for May 29, 2018
Daily analysis of EUR/JPY for May 29, 2018
EUR/JPYWhat happened to this cross is quite similar to what happened to the USD/JPY pair, due to the stamina in JPY. Yesterday, the price went lower by 150 pips, testing the demand level at 126.50. The demand level may also be breached to the downside as the price continues to get weakened lower and...
2
Daily analysis of EUR/JPY for May 28, 2018
Daily analysis of EUR/JPY for May 28, 2018
EUR/JPYHere, the downwards movement that happened last week has put an end to the recent sideways movement that was seen in the market. From May 9 to 22, the market consolidated in the context of a downtrend, and at last, there was a breakout in favor of sellers. This has really put more emphasis on...
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Elliott wave analysis of EUR/JPY for May 28, 2018
Elliott wave analysis of EUR/JPY for May 28, 2018
With the direct decline to 127.11, we need to reconsider the potential downside for now. If the wave C/ had dropped to 127.06, the wave A/ and C/ would have been exactly equal in length. As EUR/JPY turned almost exactly from the equality target at 127.06, we will have to consider the wave Y and mayb...
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Daily analysis of EUR/JPY for May 25, 2018
Daily analysis of EUR/JPY for May 25, 2018
EUR/JPYAfter ranging in the first few days of this week, the EUR/JPY pair broke out significantly in favor of bears. About 300 pips have been shed from the high of this week, and the bias on the market has become essentially bearish. There could be occasional upwards bounces along the way, but price...
2
Technical analysis of EUR/JPY for May 25, 2018
Technical analysis of EUR/JPY for May 25, 2018
The EUR/JPY pair broke out and closed below the Up Slope Broadening Channel which is a sign of the weak bullish momentum. The price is now moving below the Moving Average on the 4-hour chart. We know the EUR/JPY pair is following a bearish bias. I expect a correction in a few days to test support wh...
2
Elliott wave analysis of EUR/JPY for May 25, 2018
Elliott wave analysis of EUR/JPY for May 25, 2018
EUR/JPY is headed lower in the wave C of (E), with the ideal target set at 125.32. We have seen a nice powerful decline from 131.35 that broke below the low of the wave A without problems, confirming the final leg lower in the wave (E) is developing now. In the short-term, we could see more sideways...
2
EUR/JPY for the week of May 24, 2007 for simplified wave analysis
EUR/JPY for the week of May 24, 2007 for simplified wave analysis
Wave picture of the D1 chart:Since June 2016, the price trend direction of the EUR/JPY cross pair is set by the rising wave. It is not yet complete with a high wave potential. In recent months, the price has fallen and forms the corrective part of the wave (B).The wave pattern of the H1 graph:The cu...
1
EUR/JPY: yen is trying to win
EUR/JPY: yen is trying to win
Recommendation: SELL 128.9 SL 129.45 TP1 127.9 TP2 127.45 TP3 125.7 On the daily chart of EUR/JPY, bears managed to form “Shakeout-Fakeout” pattern and lead the pair out of the medium-term consolidation range of 129.15-132.15. As a result, the pair triggered AB=CD pattern. Its 127.2%, 161.8% and 200...
2
Elliott wave analysis of EUR/JPY for May 24, 2018
Elliott wave analysis of EUR/JPY for May 24, 2018
EUR/JPY - WeeklyIt's time to look at the long-term picture as the last leg down in the wave (E) has started. Our long-term preferred count shows a huge triangle formation developing as the wave [B]. This triangle formation began way back in July 2008, when the wave [A] peaked at 169.97 and the price...
2
Daily analysis of EUR/JPY for May 24, 2018
Daily analysis of EUR/JPY for May 24, 2018
EUR/JPYLike the USD/JPY pair, the EUR/JPY pair has also broken out significantly in favor of bears. The strong pullback in the market (the current bearish breakout) has already put an end to the recent ranging situation in the market. About 300 pips have been shed from the high of this week. Some fu...
1
EUR/JPY broke support zone
EUR/JPY broke support zone
EUR/JPY broke support zone Next sell target - 128.00 EUR/JPY today broke sharply through the support zone lying between the key support levels 130.00 and 129.30 (which have been reversing the price from the start of March, as can be seen below). The breakout of this support zone accelerated the acti...
2
Fundamental Analysis of EUR/JPY for May 23, 2018
Fundamental Analysis of EUR/JPY for May 23, 2018
EUR/JPY has been quite impulsive with the bearish gains recently inside the corrective range between the 129.50 to 132.00 area. Despite the worse economic reports today, certain gain on the JPY side does indicate the weakness of EUR in the process ahead of the ECB Monetary Policy Meeting Accounts to...
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Daily analysis of EUR/JPY for May 23, 2018
Daily analysis of EUR/JPY for May 23, 2018
EUR/JPYThe situation on this market is quite similar to what is happening on the USD/JPY pair. The strong pullback in the market (the current bearish breakout) has already put an end to the recent ranging situation on the market. About 300 pips have been shed from the high of this week, and this is ...
0
Elliott wave analysis of EUR/JPY for May 23, 2018
Elliott wave analysis of EUR/JPY for May 23, 2018
The break above resistance at 131.13 complicated everything here, as it opens more questions, than providing answers. Did wave b terminate at 129.49 or is wave b still developing as a flat? If wave b did complete at 129.49 was the rally from 129.49 to 131.13 only wave a of y and the expanded flat co...
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Daily analysis of EUR/JPY for May 22, 2018
Daily analysis of EUR/JPY for May 22, 2018
EUR/JPYThe situation on the EUR/JPY pair remains clearly unchanged as price did not do anything serious on May 21. The bias on this cross is bearish, but it is a precarious bias. What the market did last week was a zigzag movement without a clear directional propensity. Last week, price moved upward...
1
Elliott wave analysis of EUR/JPY for May 22, 2018
Elliott wave analysis of EUR/JPY for May 22, 2018
We continue to look for more downside pressure in wave d of the ongoing triangle consolidation. The ideal target for this d-leg is seen at 130.05. Once wave d is complete a final mini rally towards 130.65 is expected to complete the triangle consolidation and setting the stage for a final decline to...
1
Elliott wave analysis of EUR/JPY for May 21, 2018
Elliott wave analysis of EUR/JPY for May 21, 2018
EUR/JPY failed to move above the peal at 131.13 this failure now favors the triangle consolidation taking place. In this case, we should see another dip closer to 130.05 to complete wave d and set the stage for a final mini rally towards 130.65 in wave e. This should complete the triangle consolidat...
3
Technical analysis of EUR/JPY for May 21, 2018
Technical analysis of EUR/JPY for May 21, 2018
As we can see on the daily chart, EUR/JPY is trading in a sideways manner. However, I've spotted the divergence between the price with the RSI (14). If we look at the RSI, it has (14) twice tested the 30 level (Double Bottom). At the same time after USD/CHF tested its strong support at 129.50, the p...
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