OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY lacking conviction on moves higher

FXStreet (Guatemala) - EUR/JPY is trading at 136.68, up 0.04% on the day, having posted a daily high at 136.74 and low at 136.62.

EUR/JPY has been trading without conviction to the upside on the break of its two month downtrend of late and Karen Jones, chief analyst at Commerzbank explained that the recent move higher fell short of the 55 day ma at 138.27 and attention has reverted to the 136.37/25 lows. “Above 138.27 sees strength to 139.30/the July high and the 140.10 June high, we still look for the 2014 downtrend at 140.52 to cap”.

EUR/JPY Levels

Spot is presently trading at 136.69, and next resistance can be seen at 136.78 (Hourly 20 EMA), 136.92 (Weekly Classic S1), and 137.27 (Yesterday's High) 137.50 and 137.90. Next support to the downside can be found at 136.68 (Daily Classic S2), 136.20 and 135.80.

USD/CAD: Looking to add short position - FXWW

After a spectacular run to the upside, Sean Lee, Founder at FXWW, keeps his strong conviction that USD/CAD is due to see renewed selling interest as the rest of the market remains irrationally bullish, he notes.
Read more Previous

Draghi to strike a dovish tone - Westpac

According to Westpac FX Strategists, while Draghi’s press conference on Thu should be low key, chances are high he will strike a dovish tone.
Read more Next
Start livechat