EUR/JPY Daily Technical Analysis - June 12, 2015
Current Exchange Rate: 138.51 at the time of analysis update.
Intraday outlook: .
As we had mentioned yesterday that EUR/JPY retraced back after failing to come out of the psychological 140.00 ranges. For past 2 days the resistance has been near the 5-day EMA and this fact goes in th favor of short-term bearish outlook. However, the double-top chart pattern on the daily chart seems to have completed. We are neutral from the trading point of view but overall stay on bearish side to expect a test of 22-day EMA around 136.85.
On the upside a very strong resistance is expected at or below 139.62 and till that resistance holds, we favor deeper consolidations in the coming days.
EUR/JPY Daily and Hourly Charts
EUR/JPY 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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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.
(For Carry Trades)
EUP/JPY Resistance and Support with Daily Pivot Points (GMT 00:00)
Last Updated (Friday, 12 June 2015 01:43) 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.