We have outlooked several promising Forex pairs and the result can surprise you!
Catching the moves of EUR/JPY
Information is not investment advice
EUR/JPY reversed down at the 200-week MA around 124.45. The pair became really overbought and formed a reversal pattern on the D1. On the H1, it found some support at the 121.30 (50-period MA). However, the fall below this line will open the way down to 120.60 (38.2% Fibonacci retracement of the May-June advance) and probably even 119.40 (50% Fibo). Buyers will regain confidence only if EUR/JPY rises above 122.00.
Trade ideas for EUR/JPY
SELL 121.25; TP 120.60; SL 121.40
BUY 122.10; TP 122.85; SL 121.95
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus