EUR/JPY Daily Technical Analysis - August 4, 2014
Current Exchange Rate: 137.73 at the time of analysis update.
Intraday outlook: .
EUR/JPY had gone as high as 138.05 but found a taste of 55-day EMA resistance which was at 138.04 at that time. The price-action since then is range bound but the 4-hourly chart indicates that the short-term lows are getting higher. We remain in favor of some further gains. A break over the recent 138.05 should target 138.40 to 138.45 resistance zone first and then possibly 138.75.
On the downside a break below 137.51, which is the low of the current sideways move and also represents the 22-day EMA support, will neutralize the above outlook and in that case the currency pair should target the support zone of 137.20. We expect a good support near that level.
EUR/JPY Daily and 4-Hourly Charts
EUR/JPY 4-Hourly Chart
EUR/JPY Daily Chart
Further Resources and notes
Note 1: Please also take a look at EUR/JPY forecast for mid-term term trading approach updated on the weekends.
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(For Carry Trades)
EUP/JPY Resistance and Support with Daily Pivot Points (GMT 00:00)
Last Updated (Monday, 04 August 2014 04:07) GMT
|Standard Pivot Point for EUR/JPY||Fibonacci Pivot Point for EUR/JPY||Woodie Pivot Point for EUR/JPY||Camarilla Pivot Point for EUR/JPY|
EUR/JPY's Correlations With Other Currency Majors
|EUR/JPY Correlation Values:|
|EUR / JPY|
|EUR/JPY Correlation Graph:|
Notes and caution about Forex analysis for EUR/JPY
The daily EUR/JPY analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and EUR/JPY price-action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for EUR/JPY.
However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.
Please check the current EUR/JPY Exchange Rate.