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EURJPY

Corrective move overdueFX:EURJPY advances further north of the 164.00 level and prints new yearly highs on Thursday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 164.30 (November 16) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23). In the meantime, the daily RSI remains well within the overbought territory near 75, opening the door to a potential near-term corrective move. So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.58.
Short
by tradingconmike
EURJPY → Correction in the offing?FX:EURJPY climbs further and flirts with the 164.00 mark on Wednesday, new yearly peaks. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 163.94 (November 15) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23). In the meantime, the daily RSI enters the overbought territory near 74, opening the door to a potential near-term corrective move. So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.46.
Long
by tradingconmike
EURJPY to continue in the upward move?EURJPY - 24h expiry We are trading at overbought extremes. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. We prefer to consider the medium term trend and expect buying interest to support as prices move lower. Further upside is expected although we prefer to buy into dips close to the 162.90 level. We look to Buy at 162.90 (stop at 162.30) Our profit targets will be 164.40 and 164.80 Resistance: 165.20 / 166.65 / 167.40 Support: 163.10 / 162.00 / 161.25 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
TradePlus-Fx|EURUSD: change to sell💬 Description: The situation with the euro still forces us to take a closer look at sales. In the medium term, we are most likely to see a decline. Before this, one can take a closer look at long, but not above the level of 1.07000 . The most conservative thing to do is to place your take profits below this level. After which, as was said, a deep drop is expected from the promising update of local minimums. In a more global picture, you can take a closer look at the level of 1.05194 as a target. 🔔 FX CALENDAR TODAY 🔔 🇬🇧BoE Gov Bailey Speaks 🇺🇸Fed Chair Powell Speaks 🛢Crude Oil Inventories ➖➖➖➖➖➖➖ 🚀Thank for your BOOSTS 🚀 👇Share your views and FOLLOW US 👇
Short
by TradePlus-Fx
14
EURJPY → There is still room for further upsideFX:EURJPY manages to clear the 162.00 hurdle and print fresh 2023 tops at the beginning of the week. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 162.36 (November 9) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23). Bolstering the above, the daily RSI approaches the 68 level, still leaving some room for the continuation of the uptrend before entering the overbought territory. So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.23.
Long
by tradingconmike
EURJPY November 13th, 2023EUR/JPY is currently trading at 163.1, and there are a number of factors that suggest that the pair could continue to move higher in the near term. First, the ZEW Economic Sentiment Index for Germany is expected to improve from -1.1 to 5. This would be a significant improvement, and it would suggest that the German economy is on track to continue to grow in the coming months. A stronger German economy would likely be supportive of the euro, as it would make German goods and services more competitive in international markets. Second, the Japanese GDP growth rate is expected to slow from 1.2% to -0.1% in the third quarter of 2023. This would be a disappointing result, and it would likely weigh on the Japanese yen. A weaker yen would make Japanese imports more expensive, and it would also make Japanese exports less competitive. This would likely be supportive of the euro, as it would make European goods and services more affordable in Japan. Third, the Japanese balance of trade is expected to deteriorate from 72.1 billion yen to -735.7 billion yen in September 2023. This would be a significant decline, and it would likely put further downward pressure on the Japanese yen. A weaker yen would be supportive of the euro, as it would make European goods and services more affordable in Japan. Overall, the combination of these factors suggests that the EUR/JPY pair could continue to move higher in the near term. Traders who are looking to buy the pair could look to do so at current levels or on a break above the 170 level.
Long
by DNP-FX
EURJPY → Upside momentum has further legs to goFX:EURJPY resumes the upside and prints new yearly highs in the vicinity of the 162.00 yardstick on Friday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.85 (November 10) is expected to face the next significant resistance level not before the 2008 peak of 169.96 (July 23) So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.13.
Long
by tradingconmike
EURJPY → The 162.00 mark looms closerFX:EURJPY struggles to advance further despite printing new YTD peaks in the 161.70/75 band on Thursday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.74 (November 9) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23) So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.03.
Long
by tradingconmike
Daily Trend Reversion Options PlayOpened a position on EURJPY to fade the move back towards the Daily uptrend. Decided to go with an option for this with Exp on Friday Nov 10th @160.500 strike. Price accelerated away from the uptrend after the BoJ announcement on Oct 31st, before it pulled in and supported at 159.500 for a couple days and rallied again. I feel this provides a good risk reward on the idea, supported by intra-day bearish price action today. It looked like we had broken down yesterday, but price reversed and regained VWAP. After that though we only made a marginal new high in Asia and has since trades back below VWAP and failed to hold support at 160.850.
Short
by RuckSack
EURJPY → Rally looks unabated so farFX:EURJPY extends the march north of the fifth session in a row and clinches a new 2023 peak past the 161.00 hurdle on Wednesday. Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.05 (November 8) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23) So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.92.
Long
by tradingconmike
EURJPY SELL | Day Trading AnalysisHello Traders, here is the full analysis. Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity EURJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
11