Today we present the updated Forex live chart for EUR JPY.
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EUR JPY Forex trading tips
I use pivot points and target trading for the direction of trades for my forex analysis. Let’s check where the EUR JPY may lead us for the next days and weeks.
MONTHLY shows this pair has one target at 118.055 – 534 pips below the current position. The rsi and cmo are in the middle and appear to be going down to the buy zone. .
Weekly shows no target in this time zone therefore no trade is recommended in this time zone.
DAILY shows it has 2 targets. The first target is at 124.538 – 118 pips above the current position;, the second target is at 123.919 – 58 pips up from the current position. The rsi and cmo are in the the buy zone and will soon move up to the sell zone.
EUR JPY in the news
Updated 27.October 2020: EURJPY is now boosted by Weak Japanese Inflation and Strong Eurozone PMIs, according to InvestingCube.
EUR/JPY rates are starting to probe through its recent swing highs. The EUR/JPY rally has carried price back through a significant area of interest in recent years, between 123.65 and 123.88, an area that proved to cap price action during the EUR/JPY rally in late-May/early-June. Now, EUR/JPY rates are finding resistance around the June swing high, and the uptrend from September 2012, September 2016, and January 2019 swing lows.DailyFX: Recent changes in sentiment warn that the current EUR/JPY price trend may soon reverse lower despite the fact traders remain net-short.
EUR/JPY is losing some upside momentum. But intraday bias still stay on the upside for 1.8% projection of 114.42 to 124.43 from 119.31 at 125.49EUR/JPY Daily Outlook: Actionforex.com
Everything being equal, the EUR/JPY exchange rate could continue to trend bullish within this session. Bulls are likely to target the upper boundary of an ascending channel pattern at 122.00, according to FX Street.
n the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next according to ActionForex.
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