Written By : ForexAbode.com || Thursday, 11 December 2014 03:10 GMT

EUR/JPY Daily Technical Analysis - December 11, 2014

Current Exchange Rate: 146.47 at the time of analysis update.

Intraday outlook: Neutral for EUR/JPY..

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 analysis - hourly chart - December 11, 2014

EUR/JPY Daily Chart      

EUR/JPY analysis - daily chart - December 11, 2014

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.

Note 2: Please subscribe to the analysis newsletter so that we can send email alerts as soon as we update the the same.

There can also be some news or some indications from technical indicators or chart patterns which may suggest some major moves. Do also check EUR/JPY chart alerts in the blog section and EUR/JPY market sentiments in Forex forum.

EUR/JPY Interest Rate comparison
(For Carry Trades)
Euro (EUR) interest rate
0.15%
Japanese yen (JPY) interest rate
0.10%
EUR/JPY interest Rate Comparison
0.05%

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
R3 137.76 R3 137.39     R3 136.85
R2 137.39 R2 137.11 R2 137.39 R2 136.79
R1 137.02 R1 136.93 R1 137.02 R1 136.72
Pivot 136.65 Pivot 136.65 Pivot 136.65 Pivot 136.65
S1 136.28 S1 136.37 S1 136.28 S1 136.58
S2 135.91 S2 136.19 S2 135.91 S2 136.51
S3 135.54 S3 135.91     S3 136.45
Open 136.61 Open 136.61 Open 136.61 Open 136.61
High 137.02 High 137.02 High 137.02 High 137.02
Low 136.28 Low 136.28 Low 136.28 Low 136.28
Close 136.65 Close 136.65 Close 136.65 Close 136.65

EUR/JPY's Correlations With Other Currency Majors

EUR/JPY Correlation Values:
 
EUR / JPY
P
e
r
i
o
d
E
U
R
/
J
P
Y
AUD
/USD
EUR
/CHF
EUR
/GBP
EUR
/USD
GBP
/USD
NZD
/USD
USD
/CAD
USD
/CHF
USD
/JPY
1
W
e
e
k
1 0.08 0.79 0.36 0.51 0.47 -0.44 0.11 -0.13 0.85
1
M
o
n
t
h
1 0.15 0.23 -0.09 0.15 0.17 -0.31 -0.42 -0.08 0.67
1
Y
e
a
r
1 -0.01 -0.61 -0.71 0.9 0.85 0.7 0.67 -0.89 0.94

EUR/JPY Correlation Graph:
 
0.08
   
-0.01
   
 
0.79
   
-0.61
   
 
0.36
   
-0.71
   
 
0.51
   
0.9
   
 
0.47
   
0.85
   
 
-0.44
   
0.7
   
 
0.11
   
0.67
   
 
-0.13
   
-0.89
   
 
0.85
   
0.94
   
   
0.08
   
0.01
 
   
0.79
   
0.61
 
   
0.36
   
0.71
 
   
0.51
   
0.9
 
   
0.47
   
0.85
 
   
0.44
   
0.7
 
   
0.11
   
0.67
 
   
0.13
   
0.89
 
   
0.85
   
0.94

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.

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