Tag Archives: EUR/JPY
Daily FX Technical Strategy – Dollar downside
The uptick in European equities is keeping near-term pressure on the US dollar and a low close (below 81.00) in the US dollar index would confirm a near-term top.
Daily Market Technicals
EUR/USD: Fibonacci & 55-DMA Next Resistance At $1.2911/17. The pair breaks above $1.2901 Fibonacci level — 50.0% of the decline from $1.3140 to $1.2662, but needs to clear above $1.2911/17, where former is the 55-day moving average and latter the 50.0% of the decline from $1.3172 to $1.2662.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Stuck within a range between .8067/78 resistance and .8006/9 support. The bias is shifting higher for a push through .8078 towards .8166.
Daily Market Technicals
EUR/USD: Breaks Above 1-Month Resistance Line. Euro has broken above the 21-day moving average and also a 1-month resistance line, with break above $1.2876 seen triggering further short-covering.
Global Technical Watch – EUR/JPY on the coattails of USD/JPY
Around the US Thanksgiving holiday, we expect a subdued trading session. However, several JPY-bearish signals are already cast in stone, and the risk is for further JPY weakness into year end.
Japanese Equity Market Rally to Further Boost Cross-JPY?
Rise in Japanese equity markets could boost cross-JPY, in part via purchases of foreign debt: Wednesday’s FX daily wrote about the prospects for change in Japan’s monetary policies – especially currency policy.
EUR/JPY Analysis
EUR/JPY: Bulls In Control, Weekly Ichimoku Cloud Top Eyed. Bulls remain in control following break above April resistance line with price action now nudging above the daily Bollinger band top and projected resistance line from June 21.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Removal of .8009 support hints at a top, and allows the market to revert lower, back towards the .7961/0 support zone. Below here is needed for a greater top.
Daily Market Technicals
EUR/USD: Strong Resistance Noted At $1.2826/40. Strong topside resistance come in at $1.2826/40, where forme is the 21-day moving average and latter is the value of the 1-month resistance line.
GLOBAL FX – TRADE IDEA
Long EUR/JPY@103.80. Stop at 103.00. Take profit 105.30 US stocks showed a key reversal pattern last Friday ( Bullish Hammer) on the back of falling concern of a fiscal cliff thanks to a comment (BOEHNER SAYS MEETING WITH PRESIDENT WAS CONSTRUCTIVE, OUTLINED A FRAMEWORK FOR TAXES, SPENDING).
FX Daily Crosses
Today’s highlights: – EUR/GBP: Caught in a range between .8067/78 resistance and immediate support at .8009. A breakout either side of the range is required for more direction.