EUR/JPY Daily Technical Analysis - June 15, 2015
Current Exchange Rate: 138.63 at the time of analysis update.
Intraday outlook: .
Though initially we stay neutral of EUR/JPY but we are favoring some downward consolidation. The price action has been finding support well over the 200-day moving average but we expect a test of that support. On the upside the first critical resistance is at 139.32 and if that resistance holds and a break below 137.98 takes place then we would expect further decline towards the support zone of 137.20 to 137.40.
However, even if the resistance at 139.32 breaks then though a retest of 139.62 may take place but we would expect a very strong resistance near that level. Overall we remain in the favor of some more downward pressure in the coming days but with current price-action, remain neutral.
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.
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.
(For Carry Trades)
EUP/JPY Resistance and Support with Daily Pivot Points (GMT 00:00)
Last Updated (Monday, 15 June 2015 06:34) 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.