Category Archives: EUR/JPY

EUR/JPY Consolidation Breakout Possible

Nenad Kerkez

Different Forex crosses are breaking out of their consolidation phase, making breakouts off the important levels as we could see yesterday in the example of the GBP/NZD. Today we have a consolidation with a possible breakout on EUR/JPY. The POC zone 132.12-132.30 (D H3, EMA89, 38.2,are pivot) could reject the price towards 131.90. Break below 131.90 might target 131.75 and 131.30. The current ATR is 37 pips while the projected ATR is 86 pips so the price still has the room till next support levels.
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EURJPY Searching For A Top

Grega Horvat

EURJPY is showing a nice bearish price pattern; an ending diagonal up from Oct 16 low that can cause a strong rise of JPY against the EUR. For such scenario we would need a drop on USDJPY and also fall on stocks while 10 year US notes would rise. At the moment we do not see such scenario yet, but it’s good to be prepared. technically speaking a decisive fall below 133.48 and then a retest of that same level can be a good bearish set-up for this week, but only if 134.15 high remains untouched. more…

Triangle On EURJPY Points Lower

Grega Horvat

EURJPY is showing us a complex, overlapping and slow correction, which we see it as a Elliott wave triangle pattern. We see current triangle trading in final stages, with leg E searching for resistance. Resistance can be seen near the Fibonacci ratio of 61.8, from where a new drop lower can come in play. Later a new drop towards red wave C) can follow. more…

Powerful Reversal Pattern On EURJPY Points Lower

Grega Horvat

EURJPY can be trading in final stages of a higher degree impulse, which means a three wave reversal lower can be in view. Current rally can be final wave 5) in the making, that is more and more looking like an ending diagonal pattern. An ending diagonal pattern is a powerful reversal pattern, that can after its completion push prices in the opposite direction. Hopefully, current Fibonacci ratio of 261.8 will act as a resistance and also push prices lower. more…

Macron’S Triumph Removes Eurozone Political Risk

Daud Bhatti

Emmanuel Macron won the presidential election last Sunday, defeating Marine Le Pen, a far-right nationalist who wanted to take France out of the European Union. Markets had feared that Le Pen’s win could threaten the EU project, but Macron’s win has eliminated uncertainty regarding France’s membership of the Euro and removed the risk of near-term severe political shock to France and wider Europe. The Euro went above $1.10 briefly, but since then has pulled back. The upwards move was not dramatic than the first round of French elections as many traders have anticipated Macron’s victory and thus victory was already well priced in. more…

EUR/JPY Huge Marubozu After French Elections

Nenad Kerkez

The EUR/JPY had formed a huge marubozu candle (purple highlight) on 4h time frame after it was announced that Emmanuel Macron won the first round of the French presidential elections. If you followed my Price Action Trading School, than you should know that marubozu candle appears during high momentum in the market. Equities and EUR/USD went bullish, especially CAC40 as I predicted and analysed in the blog post before the elections. more…

Elliott Wave Analysis On EURJPY And SILVER

Gregor Horvat

EURJPY Markets are very slow today after we have seen action on friday following NFP report. Here we have EURJPY now that made a deep pullback in the last four weeks, but for now still with three waves from around 118.40 which appears to be a corrective move. Notice that price has made five subwaves down in wave C which is now turning up from the lower support channel line. Current bounce looks very promising for bullish price action ahead that may lift price even back to levels from July highs if upper trendline is broken. more…

Yuppy Is Going Down

Nenad Kerkez

The EUR/JPY is making bearish swings on daily chart and our mini chart suggests a continuation of bearish trend. Sell on rallies could be possible close to POC 113.35-50 (H3,DPP, trend line). Additionally POC zone is 78.6 fib of the last bearish swing on H1 chart. The target is 112.75 and if the price makes a momentum break below 112.75, it will target 112.25. Only below 112.25, 111.40 is possible but it will hardly happen today as we are in a holiday trading mode. more…

EUR/JPY Consolidating Within Bullish Pennant

Nenad Kerkez

The EUR/JPY has been consolidating in the bullish pennant for last couple of days. This consolidation is showing a battle between bulls and bears for the next breakout. For trading purpose we have 2 possible scenarios. Twofold scenario is possible due to general downtrend and bullish pennant at L3 support. As the price is generally bearish, we might see a drop from POC zone 117.97-118.20 (H3, DPP, 61.8,EMA89,the top of the pennant) towards 117.50, 117.00 and 116.45. However if we see an upward breakout above 118.25 the price could reach 118.64 and 119.05-20 zone. Watch the correlation table and equities. SP500 will move in correlation with EUR/JPY during NY session. more…