The common European currency has been trading in a horizontal channel against the Japanese Yen since February 20. The currency pair tested the bottom border of the channel during the morning hours of today’s trading session.
Technical Indicators demonstrate flash buy signals on both the smaller and the larger time frames. Therefore, the EUR/JPY pair could edge higher within this session.
However, given that the currency exchange rate is near the lower boundary of an ascending channel pattern at 125.54, a breakout is likely to occur during the following trading session.
Technical Indicators demonstrate flash buy signals on both the smaller and the larger time frames. Therefore, the EUR/JPY pair could edge higher within this session.
However, given that the currency exchange rate is near the lower boundary of an ascending channel pattern at 125.54, a breakout is likely to occur during the following trading session.
Comment:
The New Zealand Dollar edged lower against the US Dollar on Thursday. The currency pair breached a support cluster formed by the combination of the monthly and weekly pivot points at 0.6834.
Currently, the exchange rate is testing a resistance level formed by the weekly PP at 0.6823.
If this resistance line holds, a decline towards a support level set by the monthly S1 at 0.6775 could be expected within this session.
Although, if the NZD/USD pair passes the 0.6824 mark, the next target for bullish traders will be near the 100-hour simple moving average at 0.6861.
Currently, the exchange rate is testing a resistance level formed by the weekly PP at 0.6823.
If this resistance line holds, a decline towards a support level set by the monthly S1 at 0.6775 could be expected within this session.
Although, if the NZD/USD pair passes the 0.6824 mark, the next target for bullish traders will be near the 100-hour simple moving average at 0.6861.
Comment:
Upside risks dominated the common European currency against the against the Japanese Yen on Thursday. The exchange rate rose by about 100 base points during Thursday’s trading session.
The currency pair is currently trading near a resistance level formed by the monthly R3 at 127.25.
If this resistance line holds, a pullback towards the 126.60 mark could be expected within this session.
On the other hand, if the currency exchange rate passes the monthly R3 at 127.25, the next target for bullish traders will be a December 2018 high level at 129.00.
The currency pair is currently trading near a resistance level formed by the monthly R3 at 127.25.
If this resistance line holds, a pullback towards the 126.60 mark could be expected within this session.
On the other hand, if the currency exchange rate passes the monthly R3 at 127.25, the next target for bullish traders will be a December 2018 high level at 129.00.
Comment:
The Eurozone single currency appreciated about 88 base points against the Japanese Yen on Friday. The exchange rate was guided by the 50-hour simple moving average during the previous trading session.
Monday’s trading session began with bearish momentum. By the middle of the trading day, the currency pair has breached a support level formed by the 50-hour SMA at 126.96.
If the currency exchange rate passes the weekly pivot point t 126.70, the next target for bearish traders will be near the 100-hour SMA at 126.46.
However, if the weekly PP holds, the EUR/JPY pair will continue to maintain the junior ascending channel pattern within this session.
Monday’s trading session began with bearish momentum. By the middle of the trading day, the currency pair has breached a support level formed by the 50-hour SMA at 126.96.
If the currency exchange rate passes the weekly pivot point t 126.70, the next target for bearish traders will be near the 100-hour SMA at 126.46.
However, if the weekly PP holds, the EUR/JPY pair will continue to maintain the junior ascending channel pattern within this session.
Comment:
The common European currency depreciated about 0.61% in values against the Japanese Yen on Tuesday. The currency pair breached the lower boundary of an ascending channel pattern during Tuesday’s trading session.
The 200-hour simple moving average provided support for the exchange rate during the first half of today’s session.
If the support level holds, the EUR/JPY pair could aim for the 127.00 region within this session.
Although, if the currency exchange rate breaks the 200-hour SMA at 126.31, a decline towards a support cluster at 125.91 could be expected today.
The 200-hour simple moving average provided support for the exchange rate during the first half of today’s session.
If the support level holds, the EUR/JPY pair could aim for the 127.00 region within this session.
Although, if the currency exchange rate breaks the 200-hour SMA at 126.31, a decline towards a support cluster at 125.91 could be expected today.
Comment:
The common European currency depreciated about 1.65% in values against the Japanese Yen since March 7. The currency pair tested the lower boundary of a descending channel pattern at 124.30 during Friday’s trading session.
The exchange rate breached a resistance level formed by the 50-hour simple moving average at 125.03 during the European trading session on Monday.
By and large, it is likely that the currency exchange rate aims for the upper boundary of the descending channel pattern at 125.91 during the following trading session.
Meanwhile, technical indicators flash sell signal both on the 4(H) and the daily time frames chart.
The exchange rate breached a resistance level formed by the 50-hour simple moving average at 125.03 during the European trading session on Monday.
By and large, it is likely that the currency exchange rate aims for the upper boundary of the descending channel pattern at 125.91 during the following trading session.
Meanwhile, technical indicators flash sell signal both on the 4(H) and the daily time frames chart.
Comment:
The common European currency appreciated about 68 base points against the Japanese Yen on Wednesday. The currency pair maintained a junior ascending channel pattern during yesterday’s trading session.
Today’s session began with a bullish sentiment. By the middle of the day, a breakout had occurred through the upper boundary of the junior ascending channel pattern.
Given that a breakout has occurred, it is likely that the currency exchange rate aims for a resistance level at 126.76 within this trading session.
If the pair reaches the resistance line as mentioned above, a pullback could be expected.
Today’s session began with a bullish sentiment. By the middle of the day, a breakout had occurred through the upper boundary of the junior ascending channel pattern.
Given that a breakout has occurred, it is likely that the currency exchange rate aims for a resistance level at 126.76 within this trading session.
If the pair reaches the resistance line as mentioned above, a pullback could be expected.
Comment:
During Friday’s trading session, the common European currency depreciated about 42 base points against the Japanese Yen. The decline was stopped by a support level formed by the 50-hour simple moving average at 126.15.
As for the near future, it is likely that the currency exchange rate maintains a junior ascending channel pattern. The potential upside target will be near the upper boundary of the channel at 127.08.
However, the EUR/JPY currency pair could reverse from the current level at 126.54 and aim for the 100-hour SMA at 126.03 during the following trading session.
As for the near future, it is likely that the currency exchange rate maintains a junior ascending channel pattern. The potential upside target will be near the upper boundary of the channel at 127.08.
However, the EUR/JPY currency pair could reverse from the current level at 126.54 and aim for the 100-hour SMA at 126.03 during the following trading session.
Comment:
Downside risks have dominated the common European currency against the Japanese Yen since Wednesday’s trading session. The currency pair has lost about 0.75% in value during the last 24 hours.
Everything being equal, it is likely that the EUR/JPY exchange rate will regain some of its lost position during the following trading session. The potential upside target will be near a resistance cluster at 126.47.
However, given that a breakout had occurred through the lower boundary of an ascending channel pattern, the decline of the currency exchange rate could continue today.
Everything being equal, it is likely that the EUR/JPY exchange rate will regain some of its lost position during the following trading session. The potential upside target will be near a resistance cluster at 126.47.
However, given that a breakout had occurred through the lower boundary of an ascending channel pattern, the decline of the currency exchange rate could continue today.
After hitting a swing high of 125.79 on Tuesday morning, the exchange rate started to sink and by the middle of the day, the pair tested the 50-hour simple moving average at 125.75.
By and large, it is likely that the EUR/JPY currency exchange rate aims at the upper boundary of a junior ascending channel pattern at 126.60 during the following trading session.