EUR/JPY Daily Technical Analysis - December 11, 2014
Current Exchange Rate: 146.47 at the time of analysis update.
Intraday outlook: .
We expect resistance to hold in the range of 147.76 to 147.94. Even if these resistances fail then we would expect bany further recovery to be limited to 148.20. If this resistances hold then a retest of 146.42 will be expected. A break of 146.42 support should take EUR/JPY towards 145.90 to 146.25 support zone.
As mentioned yesterday, the recent resistance at 149.78 was more of the major psychological resistance of 150.00 leve. On the other hand the subsequent supports first at 146.80 and then at 146.42 indicated that 145.00 has now turned into a psychological support. Fundamentally speaking, the sentiments about Japanese economy are poor but then the same is true for Euro-zone. Greece crisis is back into the picture. Considering this we, initially stay neutral at the current price levels.
EUR/JPY Daily and 4-Hourly Charts
EUR/JPY Hourly Chart
EUR/JPY Daily Chart
Further Resources and notes
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(For Carry Trades)
EUP/JPY Resistance and Support with Daily Pivot Points (GMT 00:00)
Last Updated (Tuesday, 21 October 2014 02:30) 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:|
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|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.