Category Archives: EUR/JPY

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…

Elliott Wave Analysis On EURUSD And EURJPY

Gregor Horvat

EURUSD: Traders, we have some first signs of a continuation higher on EURUSD after price made an overlap with 1.0882 which invalidates any bearish impulse down from 1.0970 high. As such, we are even more confident that decline is corrective and ideally it was wave E, final leg within a big triangle that can send prices higher this week. Today at 16.00GMT ECB President Draghi will have speech, so if price will stay in bullish mode after that, then we may consider entries on a pullback. We will track it very closely! Any break beneath 1.0770 will invalidate our bullish bias. more…

My Wife’s Grandfather Lives Alone

Matt Weller

My wife’s grandfather lives alone.

That probably seems like an unusual way to begin an article about European monetary policy and EUR/JPY, but bear with me.

Whenever we visit Walter, he is so overjoyed to have someone to converse with that he’ll eagerly ask for updates about the groundhogs in our yard, our new toaster, and other mundane happenings in our lives. While these day-to-day happenings are hardly interesting even to us, he gobbles them up as if they’re the most fascinating developments in the world. more…