The EURJPY currency pair changed direction after the European Central Bank (ECB) indicated a possible interest rate increase and adjustments to its Yield Curve Control (YCC) strategy.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
- The pair currently trades last at 152.899.
- Pivot support is noted at 155.08, 154.69, 154.24
- Pivot resistance is noted at 155.93, 156.38, 156.77
- EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
- EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group
The previous day high was 155.99 while the previous day low was 155.15. The daily 38.2% Fib levels comes at 155.47, expected to provide resistance. Similarly, the daily 61.8% fib level is at 155.67, expected to provide resistance.
The EUR/JPY cross tallied a fourth consecutive day of losses, weakened by Christine Lagarde’s neutral stance following the European Central Bank (ECB) decision to hike rates by 0.25% as expected. The Euro is seeing losses agains most of its rivals, including the JPY, while investors await the Bank of Japan (BoJ) decision early in the Asian session on Friday.
When asked if the bank had more ground to cover, Lagarde stated, “At this point, I wouldn’t say so”. In addition, regarding the September decision, she confirmed that it would depend on the economy’s evolution and inflation. She also added that the Council would not use forward guidance and would have the choice of raising or maintaining interest rates.
On the Japanese side, markets await the BoJ to maintain its dovish stance in Friday’s meeting. However, Nikkei reported on Thursday that the bank would consider keeping a rate ceiling but allow moderate rises beyond that level, which gave the JPY a significant boost. In addition, investors will eye the updated macro projections to continue modelling their expectations regarding the bank’s next steps.
According to the daily chart, the technical outlook is bearish. The Relative Strength Index (RSI) fell into negative territory, while the Moving Average Convergence Divergence (MACD) prints higher red bars indicating that the bears are in command.
Support levels: 153.00, 151.00, 150.00
Resistance levels: 156.00 (20-day Simple Moving Average), 157.00, 157.50.
Technical Levels: Supports and Resistances
EURJPY currently trading at 153.26 at the time of writing. Pair opened at 155.47 and is trading with a change of -1.42 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 153.26 |
| 1 | Today Daily Change | -2.21 |
| 2 | Today Daily Change % | -1.42 |
| 3 | Today daily open | 155.47 |
The pair is trading below its 20 Daily moving average @ 156.2, below its 50 Daily moving average @ 153.65 , above its 100 Daily moving average @ 149.63 and above its 200 Daily moving average @ 146.39
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 156.20 |
| 1 | Daily SMA50 | 153.65 |
| 2 | Daily SMA100 | 149.63 |
| 3 | Daily SMA200 | 146.39 |
The previous day high was 155.99 while the previous day low was 155.15. The daily 38.2% Fib levels comes at 155.47, expected to provide resistance. Similarly, the daily 61.8% fib level is at 155.67, expected to provide resistance.
Note the levels of interest below:
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 155.99 |
| Previous Daily Low | 155.15 |
| Previous Weekly High | 158.05 |
| Previous Weekly Low | 154.88 |
| Previous Monthly High | 158.00 |
| Previous Monthly Low | 148.62 |
| Daily Fibonacci 38.2% | 155.47 |
| Daily Fibonacci 61.8% | 155.67 |
| Daily Pivot Point S1 | 155.08 |
| Daily Pivot Point S2 | 154.69 |
| Daily Pivot Point S3 | 154.24 |
| Daily Pivot Point R1 | 155.93 |
| Daily Pivot Point R2 | 156.38 |
| Daily Pivot Point R3 | 156.77 |
[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.
