Daily Pivots: (S1) 123.55; (P) 123.85; (R1) 124.37;
EUR/JPY recovers after hitting 123.31 and intraday bias is turned neutral first. Further fall is expected as long as 125.01 resistance holds. Fall from 127.07 is correcting the rise from 114.42. Break of 123.31 will target 38.2% retracement of 114.
Daily Pivots: (S1) 123.58; (P) 124.30; (R1) 124.75;
EUR/JPY’s fall continues to as low as 123..31 so far today. With a head and shoulder top formed, decline from 127.07 should be correcting the whole rise from 114.42. Intraday bias stays on the downside for 38.2% retracement of 114.42 to 127.07 at 1
Daily Pivots: (S1) 124.53; (P) 125.15; (R1) 125.54;
EUR/JPY’s break of 124.44 support completes ahead and shoulder top pattern. Fall from 127.07 should at least be corrective whole rise from 114.42. Intraday bias is turned to the downside for 38.2% retracement of 114.42 to 127.07 at 122.23. On the d
At 5.00 am ET Monday, Eurostat publishes euro area industrial production data for July. Economists forecast production to grow 4 percent on month, slower than the 9.1 percent rise in June.
Ahead of the data, the euro traded mixed against its major rivals. While the euro held steady against the yen,
EUR/JPY stayed in consolidation pattern between 124.44/127.07 last week. Initial bias stays neutral first and another rise remains in favor as long as 124.44 support holds. Firm break of 127.07 will resume larger rise from 114.42, to 128.67 fibonacci level. However, firm break of 124.44 should, at l
UK strikes Japan trade deal in morale booster signaling hope for similar agreementsThe U.K. and Japan announced on Friday that they had reached agreement on a trade deal, boosting Britain’s hopes of being able to strike similar agreements with other major economies once it has cut its ties with
The Pound’s selloff continues today as the UK government’s so called internal market bill draws wide criticism, from EU to Scotland and Wales. Traders continue to off-load Sterling on no-deal Brexit risks. European markets, though, somewhat stabilized and recovered from yesterday’s selloff. US stock
Daily Pivots: (S1) 124.48; (P) 125.07; (R1) 125.43;
EUR/JPY is still holding on to 124.44 support and intraday bias remains neutral first. On the downside, firm break of 124.44 should confirm short term topping at 127.07, on bearish divergence condition in daily MACD. Intraday bias will be turned to