Fundamental analysis of EUR/JPY for November 22, 2017
November 22, 2017 5:21 pmVideo
Latest News
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
- Trading plan for GBP/USD on April 19. Simple tips for beginners April 19, 2024
- Trading plan for EUR/USD on April 19. Simple tips for beginners April 19, 2024
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
EUR/JPY is currently residing at the lower end of the corrective range between 131.70 to 134.40 area which is currently showing some bearish momentum to break below the range support. Due to recent German issues EUR has been struggling to gain momentum against JPY, leading to bearish pressure in the pair which is expected to continue further. Today EUR Consumer Confidence report was published with better than expected figure of 0.0% which was expected to be unchanged at -0.1% whereas recently JPY was quite negative with the recent economic report of All Industrial Activity at -0.5% which previously was at 0.2%. Despite the worse economic reports from Japan, the currency gained momentum over EUR which explains the weakness of EUR in comparison and the strength of JPY in the market. This week there are some impactful news on EUR and JPY sides including the Flash Manufacturing and Services PMI reports which are expected to inject fair amount of volatility in the pair and indicate upcoming price action in the pair. To sum up, JPY has higher probability to gain over EUR with the existing market sentiment in favor whereas any upcoming JPY positive economic reports will accelerate the momentum in the coming days.
Now let us look at the technical view. The price is currently residing at the edge of 131.70 support level which is expected to break below in the coming days with target towards 130.00 support area in the coming days. The recent bearish momentum was quite impulsive in the pair, whereas new lower highs and price residing below the dynamic level of 20 EMA indicate the upcoming bearish momentum in the pair. As the price remains below 134.00 level, the bearish bias is expected to continue further.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: