Can EURJPY and GBPJPY Break Major Resistances ?
November 25, 2016 11:42 amVideo
Latest News
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
- Trading plan for GBP/USD on April 16. Simple tips for beginners April 16, 2024
- Trading plan for EUR/USD on April 16. Simple tips for beginners April 16, 2024
- Overview of the EUR/USD pair. April 16th. In plain text: The ECB will cut rates in June April 16, 2024
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
EUR/JPY has turned bullish since the US presidential election date, trading above the uptrend line support, as a result of the weakening of the yen. From 9th to 24th November, the bullish momentum has pushed the price up 3.72%. This morning the price hit a 5-month high of 120.15. Last night we have seen the release of the Japanese National CPI and Core CPI YoY (ex-food and energy) figures for October, were 0.1% and 0.2% respectively, both better than the previous figures of -0.5% and 0.0%. Yet the Core CPI (ex- fresh food) was -0.4%, in line with expectations and the previous figure, marking the 8th consecutive negative figure. The trend remains bullish, yet the current price is nearing the mid-term major resistance level at 121.00, the bullish momentum is likely to be restrained at this level. The daily Stochastic Oscillator is above 80, and the daily RSI indicator is above 70, suggesting a pullback. The resistance level is at 120.00, followed by 120.50 and 121.00. The support line is at 119.50, followed by 119.00 and 118.50. We will see the release of a series of the Japanese labour market and retail sales figures for October, to be released at 23:30 GMT on Monday 28th November. It includes the Unemployment Rate, Job Applicant Ratio, Overall Household Spending (YoY), Large Retailer’s Sales (YoY), and Retail Trade (YoY). The figures will likely influence the strength of the yen, and the trend of EUR/JPY. GBP/JPY has turned bullish since the US presidential election date, trading above the uptrend line support, as a result of the weakening of the yen, and the strengthening of Sterling. From 9th to 24th November, the strong bullish momentum has pushed the price up 7.64%. This morning the price hit a 4-month high of 141.72. The trend remains bullish, yet the price is trading below the mid-term major resistance level at 142.00, the bullish momentum is likely to be restrained at this level. The daily Stochastic Oscillator and the daily RSI indicator are both above 80, suggesting a pullback. The resistance level is at 141.00, followed by 141.50 and 142.00. The support line is at 140.50, followed by 140.00 and 139.50. Keep an eye on the Japanese labour market and the retail sales figures for October, to be released at 23:30 GMT on Monday 28th November. The figures will likely influence the strength of the yen, and the trend of GBP/JPY.
Source: FX Pro Market Snapshot
Related Posts: