CATEGORY EUR/JPY

Weekly FX Market Update – 6 February 2018 (Video)

It’s been an extremely turbulent 24 hours in the financial market with the Dow recording its largest ever daily points drop as panic set in and traders tried to work out what was triggering such a strong sell-off. Markets have stabilized a little on Tuesday but there remains some concern among traders which continues to…

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EUR/JPY is getting bumpy

A high wave candle on the daily EUR/JPY chart augurs that the upward power of this market is dissipating.Closing the day below the 21-day simple moving average, this pair has thrown in a large bodied candlestick, with both upper and lower wicks summing…

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EUR/JPY struggles around 133.00

FXStreet (Córdoba) – The euro found support after suffering an over 100-pip drop versus the yen during the European session, with the pair now consolidating near lows.

EUR/JPY fell sharply, as the shared currency weakened across the board, and bottomed out at 132.76, its lowest level since the BCE decision last week. However, EUR/JPY managed to recover slightly, settling around the 133.00 mark over the last hours. At time of writing, EUR/JPY is trading at 133.06, recording a 0.61% loss on the day.

EUR/JPY levels to consider

In terms of technical levels, next supports are seen at 132.76 (Dec 10 low), 132.40 (10-day SMA) and then 131.78 (21-day SMA). On the other hand, resistances could be found at 134.10 (Dec 10 high/200-day SMA), 134.55/58 (100-day SMA/Dec 4 high) and then 135.00 (psychological level).

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The euro found support after suffering an over 100-pip drop versus the yen during the European session, with the pair now consolidating near lows.


(Market News Provided by FXstreet)

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