Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
EUR/JPY is preparing to move

EUR/JPY is preparing to move

Information is not investment advice

EUR/JPY has been moving up since the start of September. At the beginning of October, it formed a higher low. The pair is currently consolidating between 61.8% Fibo of the July-September decline at 120.45 and the 78.6% Fibo level at 121.75. All in all, EUR/JPY is at the upper edge of its channel. It looks like there’s a need for correction to the downside. The decline below 120.40 will open the way down to the support at 119.80 (100-day MA).

On the upside, the next obstacle above 121.75 is at 122.20 (200-day MA). So far, the price action in line with the bearish harmonic “Bat” pattern: that means that the pair may get to test levels around 122.20/50, but then turn lower. As a result, it may be possible to pursue higher levels on positive news from the euro area, though one will have to be careful with that. 

EURJPY.png

Similar

XAU/USD: where to next?

XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.

Popular

Choose your payment system

Learn more