This week, prevailing market dynamics suggest a bearish sentiment for the EUR/JPY exchange rate, propelled by a convergence of influential factors. Foremost among these is the European Central Bank's cautious monetary policy stance in response to lingering concerns surrounding inflationary pressures and economic recuperation within the Eurozone. Compounded by...
Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the support zone of 127.500. The eurozone retail sales date (Actual:0.2%, Forecast: 1.5%, Previous: -3.0%) released last Friday indicated a slowdown in consumer spending in January Currently, EUR/JPY is testing the support zone of 125.000 and the next resistance zone is at 127.500. Look for...
We are close to Christmas weekend, markets are trading in a sideways range. EurJpy seems to be at the higher end of the range, we are looking to target shorts to the bottom end of the range around 128.800. Something to look out for during these times are random volatile spikes in price, make sure stops are well placed because the market will spike up or down to...
Buys for EURJPY. Quick swing into 128.200, New York may push to that level and then get rejected to end the week consolidating around these levels
Heavy bearish close last week as we tapped into the recent highs set the week of Jan 4 , we corrected the move and continued the break below 127.076 and 126.818. We closed the week with lows New York set at 125.371. With JPY news coming out today 11:30EST, we can expect some sort of volume heading into London session. Not much volume expected until later Monday...
Key Levels: Daily High- 127.500 Previous daily resistance- 127.075 Previous daily low- 126.819 Daily support- 126.256 Looking for a break of previous day low and a push into 126.250 Idea not valid if we break up past 127.075
Strong selling pressure, if we can maintain resistance around Asian low/4hr KEY ZONE /Psychological pricing, we have a good probability of continuing the move down to try and make new lows. Wait for time frames to align before entering.