The EURJPY market has come under strong headwinds, which have kept pushing the market lower. The mentioned headwind seems to have originated from a stronger-than-expected inflation figure and a hawkish comment from the BoJ’s governor. This hints that fewer interest rate cuts may occur soon. This has continued to drive the EURJPY market deeper. Let’s…
The EURJPY market has been forming lower lows since September 30th. One of these lows was a support level of 163.50, and the latest low was around 162.60. This downward trend is supported by improved PPI and inflation figures in Europe, coupled with declining manufacturing PMI and household spending in Japan. Let’s delve into the…
The EURJPY has recently rebounded from the 163.50 support level. However, upward momentum has been hindered by factors such as the collapse of the German government coalition. As a result, price action has been steadily losing momentum. With Japan’s inflation exceeding the Bank of Japan’s target, there is a possibility of interest rate hikes, which…
If you’re trading Japanese Yen (JPY) pairs, understanding key support and resistance levels is critical. The IQ FX Gann Levels v1.3 indicator offers traders a powerful tool to identify these levels and predict market moves with precision. In this short blog post, we’ll take a closer look at how the Gann Levels Indicator has accurately…
The EURJPY has continued its upside correction after the ECB met interest rate expectations by lowering it by 25 basis points. As a result, policymakers are now confident that inflation in Europe will reduce toward the 2% target. This may aid the pair in achieving more gains in the meantime. Key Price Levels:Resistance Levels: 165.00,…
Bullish momentum in the EURJPY market seems to have slowed significantly after the price action crossed the 162.00 level. This appears to be the aftermath of a sharp decline in Asian stocks, combined with a hint from ECB policymaker Peter Kazimir. Let’s try to pick up cues about possible market direction below. Key Price Levels:Resistance…
Forex Technical Outlook from the Savvy Trader – Forex Forum September 29, 2024 /Posted byGVI Forex / 1066 / Source link
The EUR hasn’t been performing well on the fundamental front at the moment. Yet, the price action of the EUR/JPY market can be seen holding support above a key level. The ongoing session is currently taking place above a critical mark on the technical indicator, suggesting that price action may continue upward. Key Price Levels: Resistance…
While the Eurozone seems relatively quiet on the fundamental front, the Japanese yen appears more active. Consequently, this has created some headwinds in the market, driving it lower. At this point, price action has broken through a key support level. Let’s see how the market may proceed from here. Key Price Levels:Resistance Levels: 160.00, 165.00,…
The EURJPY market appears static from a fundamental perspective, leaving price activity influenced primarily by supply and demand forces. However, the Japanese yen seems to be attracting attention, creating a headwind in the market. Key Price Levels:Resistance Levels: 165.00, 170.00, 175.00Support Levels: 160.00, 150.00, 145.00 EURJPY Resumes Trading Below the Bollinger Band’s Moving Average (MA)…