FxWirePro
Long

EUR/JPY breaks major resistance at 126, good to long dips

FX:EURJPY   Euro Fx/Japanese Yen
162 0 8
EUR/JPY             spiked above last month's resistance at 125.00 post ECB meeting yesterday.

The pair has also broken above 126 resistance and we see scope for upside till 128 levels.

Extremely volatility seen post ECB event, where EUR initially plunged after the central bank aggressively unveiled more stimulus.

Draghi’s presser triggered a quick reversal rally as markets repriced forward outlook on interest rate differentials, after Draghi's announcements in the presser.

Draghi stated that the ECB cannot cut rates as low as they want and squashed expectations over negative interest rates policy.

BoJ meeting next week is expected to be a non-event, the central bank is likely to stay pat.

Technicals for the pair are bullish , momentum is higher, we see scope for test of 129 levels. Bullish invalidation only below 123 levels.

Good to buy dips around 126.40/50, SL: 125.30, TP: 127.40/128
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out