EUR JPY Overview

Previous: On Monday the 16th of April, trading on the euro closed up. The euro started rallying as trading got underway in Europe. The main reason for this was the universal decline of the US dollar, brought about by America’s military action in Syria. Despite this, markets opened relatively peacefu...

Previous: On Friday the 13th of April, trading on the single currency closed slightly up against the greenback. Trading was mixed, with the pair fluctuating within a range of 1.2307 – 1.2346 due to a lack of any new impetus. The euro came under pressure from the publication of the minutes of the ECB...

Previous: On Wednesday the 4th of April, trading on the euro/dollar pair closed slightly up. Volatility was consistently high throughout the European session. Still, the exchange rates on the majors didn’t differ much from Tuesday’s closing prices. The trade conflict between the US and China is weig...

Previous: On Friday the 9th of March, trading on the EURUSD pair closed slightly down. The key event of the day for currency markets was the US jobs report (Nonfarm payrolls). Before its release, the exchange rate was hovering around 1.2305. 313,000 new jobs were added outside the agricultural secto...

On Wednesday the 7th of March, during the European trading session, the US dollar showed some mixed dynamics. It’s currently trading down against the safe havens (yen, franc, gold), while trading up against the other majors (loonie, Aussie, Kiwi, pound). The euro is on an upwards trend on the hourl....

Sell below 135.91. Stop loss at 136.38. Take profit at 134.84. Reason for the trading strategy (technically): Price has dropped absolutely perfectly from our selling area yesterday and has since made an intermediate recovery. We’re back to testing our major resistance again and we look to sell below...

Previous: On Monday the 22nd of January, trading on the euro closed slightly down against its opening price, and slightly up against Friday’s closing price. It was a very volatile day. I still can’t figure out why the market fluctuated so much and what traders were reacting to throughout the day. Tr...

Trading opportunities on the currency pair: The price is moving according to plan. Buyers have overcome the resistance at 134.50 and reached their intermediate target of 136.00. Now, the road to 139 is open (162% of the 114.85 – 124.08 range). We could see a pullback before the rally recommences. It...

USD underwent some turbulence yesterday, but it seems that the situation is now back on track. Gold is in a strong uptrend but we’re slowly seeing a bigger appetite for a bearish correction here. The first chance to do that may be created by the head and shoulders pattern, which is now being formed....

Previous: On Wednesday the 10th of January, trading on the euro closed slightly up after Bloomberg landed a blow on the dollar during the European session. The news agency reported that China is planning to reduce or stop its purchases of US government bonds. The dollar dropped as bond yields rose d...

Previous: Trading on the euro/dollar pair has closed down for the 3rd day in a row. This downwards correction comes to 173 pips. The euro has come under pressure after news from Japan (via the EURJPY cross), growth in US bond yields, as well as some technical factors. The Bank of Japan has reduced i...

After triggering major sell signal on the 5th of December gold went significantly lower but in the last few days we have had a bullish correction which aimed the previous broken support. Why are we talking about correction and not reversal? Well, the upswing is shaped like a wedge so it promotes th....

Trading opportunities on the currency pair: The mid-term target is still 141.06. The intermediate targets are 136 and 139. After a rebound from the 131.40 – 131.80 support zone, the euro is expected to rise against the yen to 134.50. This will not happen if the weekly candlestick closes below 129.50...

Yesterday, the EURUSD pair made a quick stop below the 1.1860 resistance and today, buyers launched an attack. It seems to have been successful as the price has gone much higher, but for the final outcome, we need to wait till the end of the day. Nonetheless, sentiment remains positive and with the....

Buy above 132.63. Stop loss at 131.87. Take profit at 133.74. Reason for the trading strategy (technically): Price has started to form a really nice reversal pattern. We remain bullish looking to buy on dips above major support at 132.63 (Fibonacci retracement, horizontal pullback support, Fibonacci...

  Buy above 132.63. Stop loss at 131.87. Take profit at 133.74. Reason for the trading strategy (technically): Price has dropped perfectly to our profit target. We prepare to buy on major support at 132.63 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) for a push up to 133...

Sell below 133.85. Stop loss at 134.18. Take profit at 133.12. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We look to sell on major resistance at 133.85 (Horizontal pullback resistance, Fibonacci retracement, Fibonacci extension) for a co...

Buy above 131.51. Stop loss at 131.02. Take profit at 133.12. Reason for the trading strategy (technically): Price has continued to whipsaw around our buying entry. We remain bullish looking to buy above major support at 131.51 (Fibonacci extension, horizontal swing low support, bullish channel exit...

Sell below 132.30. Stop loss at 132.76. Take profit at 131.52. Reason for the trading strategy (technically): Price has started to inch lower since yesterday. We now look to sell on strength below major resistance at 132.30 (Fibonacci retracement, horizontal overlap support) for a strong push down t...

Sell below 132.30. Stop loss at 132.76. Take profit at 131.52. Reason for the trading strategy (technically): Price has broken major support and is on route to our profit target. We now look to sell on strength below major resistance at 132.30 (Fibonacci retracement, horizontal overlap support) for ...

Trading opportunities on the currency pair: Prime Minister Shinzo Abe’s comfortable election victory in Japan has increased expectations that the central bank’s current monetary policy will remain in place. Both currencies are under pressure, so the pair is trading sideways. In my forecast, I’m expe...

Buy above 132.28. Stop loss at 131.79. Take profit at 133.12. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We remain bullish looking to buy above major support at 132.28 (Fibonacci retracement, horizontal pullback support, cup and handle s...

Buy above 131.73. Stop loss at 131.33. Take profit at 132.38. Reason for the trading strategy (technically): Price is whipsawing a lot due to volatility. We remain bullish above 131.73 support (Fibonacci extension, horizontal support) for a push up to at least 132.38 resistance (Fibonacci retracemen...

Buy above 132.38. Stop loss at 131.99. Take profit at 133.15. Reason for the trading strategy (technically): Price has plummeted down to our profit target perfectly from our selling area. We prepare to buy above 132.32 support (Fibonacci retracement, horizontal overlap support) for a corrective boun...

Sell below 134.36. Stop loss at 134.66. Take profit at 133.16. Reason for the trading strategy (technically): Price has reached our selling area perfectly and continues to test that level. We remain bearish looking to sell on major resistance at 134.36 (Fibonacci extension, Elliott wave theory, hori...

Sell below 134.36. Stop loss at 134.66. Take profit at 133.16. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We prepare to sell on major resistance at 134.36 (Fibonacci extension, Elliott wave theory, horizontal swing high resistance) for a...

Sell below 133.55. Stop loss at 133.96. Take profit at 131.90.   Reason for the trading strategy (technically): Price is forming a very strong reversal pattern and we remain bearish below major resistance at 133.55 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance, Elliot...

Previous: On Thursday the 19th of October, trading on the euro/dollar pair closed up. The British pound was not so fortunate. The main reason for the euro’s rise on the crosses was the news from Spain. Mariano Rajoy, the Prime Minister of Spain, announced his government’s intention to impose direct ...

Sell below 133.29. Stop loss at 133.96. Take profit at 131.90.   Reason for the trading strategy (technically): Price has shot up from our buying area and reached our profit target perfectly. We prepare to sell on major resistance at 133.29 (Fibonacci retracement, Fibonacci extension, horizontal ove...

Speculation over John Taylor possibly being the next Chair of the Fed has helped the USD regain some strength. This is especially apparent on the DXY, which bounced from the 92.75 support using a double bottom pattern and started forming the right shoulder of the iH&S pattern. There is no buy s....