Technical Analysis for EUR JPY AND USD MXN |March 2020

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Today we are giving you technical analysis for 2 new currency pairs, the EUR JPY and USD MXN.

Technical analysis
Technical analysis for EUR JPY and USD MXN currency pairs, update in March 2020

Are you trading EUR JPY? Or maybe you have EUR JPY in a copytrader? If you have been following BASDOMG for at least the last 20 days you have probably a drawdown of -350 Pips on your account, as this trader is selling EUR JPY and the trade has been going against him. He opened the trade on the 20.February, and it seems to not have been the best time for a sell trade for this currency pair. However, it’s still open, so BASDOMG is hoping it will retrace soon. But what can we expect from this currency pair for the next few days and weeks?

eur jpy trades
EUR JPY is down -345.7 Pips for this trader on Zulutrade right now (12.March 2020).

March 27, 2020

Update EUR JPY

MONTHLY shows this pair still in consolidation from the last posting but not crossing the down trend line. The rsi is just below the sell zone and when it finally reaches the sell zone it should start to make it’s move down.

DAILY shows this pair made a massive movement up crossing a down trend line and then back down with an engulfing bearish candle. It has retraced back to the trend line for the moment but should some back down to hit the .382 at 118.127 giving 172 pips. The rsi is in the sell zone ready to head it’s way down to the buy zone.

HOURLY shows this pair had been steadily coming down following the down trend line and hitting the 1.618 of the secondary fib at 118.755, crossing an up trend line, then reversed and retraced in an engulfing bullish candle and upwards to 119.855 and hitting the down trend line. Notice the wedge the down and up trend line has made and this pair is right on the apex indicating a major move is about to happen. The rsi is in the middle on it’s way to the sell zone, indicating this pair will move further up, crossing the up trend line, possibly to the .618 at 120.458 giving 61 pips.

March 27, 2020

Update USD MXN

MONTHLY shows this pair had an engulfing bullish candle that broke through the range it had been stuck in between 20.67958 and 17.93370 and reached up to the 1.618 of the previous fib at 25.57578. It has retraced down to the .270 of the old fib and the .236 of the current fib at 23.42195. With the rsi in the buy zone it should move back up to the .270 at 27.58135 giving 43,134 pips. If it should go to the 1.618 at 30.40711 this would give 70,822 pips from the current position.

DAILY shows the huge movement up to 25.45709 following an up trend line and then falling down, crossing the up trend line to .500 at 22.84982 ending with an up candle at 23.36235. If it moves to the .236 that would give 9,186 pips. With the rsi almost in the buy zone it should move up when it reaches the buy zone.

HOURLY shows this pair made 2 engulfing candles down crossing an up trend line and the .236. The rsi has left the sell zone and it appears to be headed to the .270 at 22.50620 which would give 7,461 pips.

March 25, 2020

Update EUR JPY

MONTHLY shows this pair still following the down trend line and hit the .236 at 116.76. The rsi is in the sell zone and if it continues to the .270 at 100.601 that would bring 1,940 pips.

DAILY shows this pair with a number of engulfing candles and then finally a series of up candles crossing the down trend line. The rsi is just below the sell zone and soon it should retrace back down. If it goes to the .618 at 119.368 that would give 70 pips. If it goes to the .382 at 118.127 that would give 197 pips.

HOURLY shows this pair has had a nice movement up crossing the up trend line twice. With the rsi in the buy zone this pair should go to the .270 at 121.330 which would give it 124 pips.

USD MXN

March 25, 2020

Update USD MXN

MONTHLY shows this pair finally broke consolidation with a massive bullish engulfing candle reaching the 1.618 of the previous fib at 25.48771. With the rsi in the buy zone it appears ready to move up to the .270 of the current fib at 27.58135 which would give it 28,014 pips.

DAILY shows the massive movement up it made passing the 1.618 at 23.84450 and stopping at 25.43141 and coming back down to 24.82305. With the rsi in the sell zone it looks like it is ready to come back to the 1.618 at 23.84450 which would give it 9,673 pips. If it made it to the .270 at 22.84982 then that would give 19,967 pips.

HOURLY shows this pair almost reached the 1.618 at 25.51960. This pair seems to be ranging between 235.45048 and 24.61005. It has zig zagged downward this time touching the up trend line and eventually crossing it very slightly. With the rsi mid way to the sell zone it appears it will go up to at least the .180 at 25.61005 which would give it 1,961 pips.

March 18, 2020

Update EUR JPY

MONTHLY shows this pair made a small movement up and then slid down the down trend line to the 0.236 at 116.764, peeking just below it. Usually this mean more down movement and if it show go to the .180 at 103.477 that would give 1,489 pips. The rsi is in the sell zone setting this up for a sell position on the monthly.

DAILY shows this pair in a large consolidation dance. With the rsi just below the sell zone it might come up a bit until it gets to the sell zone and then head down to the .270 at 114.696 which would give 358 pips.

HOURLY shows this pair ranging between 118.677 and 117.289. With the rsi in the buy zone if it reaches the top of the range at 118.677 it would give 44 pips. If it should continue to the .382 it would give 72 pips and if it continues to the .618 it would give 127 pips from it’s current position.

Update March 18, 2020

USD MXN

MONTHLY ranged in consolidation between 20.67958 and 17.93370 ending in an bullish engulfing candle and almost reached the .270 at 23.60379. With the rsi in the sell zone it should continue up to the 1.618 at 25.56147 which would give it 27,081 pips.

DAILY shows this pair following an up trend line to the .270 at 22.84982. The rsi is skimming along the sell zone which could indicate further up movement. If it goes to the 1.618 at 23.84450 that would give it 9,452 pips.

HOURLY shows this pair has crossed an up trend line on a down movement ending with an up candle. With the rsi in the buy zone, this pair could gartley up to the .270 at 23.65408 which would give it 7,353 pips.

March 10, 2020

Update EUR JPY

MONTHLY shows this pair following a down trend line to the .236 at 116.610. It has come up to 118.776 at present. The RSI is just below the sell zone at the moment indicating further down movement.

EUR JPY Monthly charts

DAILY shows the major movement resulting from Saudi Arabia lowering the oil price hitting 116.000 and bouncing back up to 119.118 and then back down to 118.781 at .500 on the fib scale following a down trend line. the rsi is in the buy zone and if it goes to the .786 at 120.253 that would be 151 pips.

EUR JPY Daily charts

HOURLY shows this pair has had a large movement up crossing a down trend line and has come down to .236 at 118.828. It is almost in the cross of an uptrend line at 118.311 on the .382 of the fib scale. With the rsi in the sell zone it would give 52 pips if it came down to the .382, however I think it will then continue to the .276 at 119.888.

EUR JPY Hourly charts

USD MXN

Update March 10, 2020

MONTHLY shows this pair had a huge spike and reached 22.01526 and settled back on the .236 at 20.67958. The RSI is in the buy zone showing there is more up movement to come. If it goes to the .270 at 23.60379 that would give 27985 pips.

USD MXN Monthly charts

DAILY shows this pair had a massive spike to 22.00000 and settled down in between the .382 and the .500 at 20.78555. The RSI is in the sell zone and if it comes down to the .618 at 20.25483 that would give 5179 pips

USD MXN Daily charts

HOURLY shows this pair dancing up and down along an up trend line. It hit the .618 and has bounced up to 20.87495. The RSI is strongly in the buy zone and is ready to head up. If this pair reaches the .382 at 21.18605 this will give 3391 pips.

USD MXN Hourly charts

March 5, 2020

Update

MONTHLY shows this pair met the down trend line and did not cross it, and instead is following it down and seems it will hit the .236 at 116.610. The RSI is in the sell zone and is another indicator it is on the way down and could possibly hit support just below the .236

USD MXN Monthly charts

DAILY shows this pair in a bit of consolidation trying to make up it’s mind which way to go. It seems to be trading in a range between 121.444 and 118.361. The RSI is mid way between the buy and sell zone and for now it is best to wait and see which way this pair decides to go. Once it breaks through this range then it is time to look at a possible trade.

USD MXN Daily charts

HOURLY shows this pair following the down trend line and hit the bottom of the range it has been in at 118.996 and bounced back up. With the RSI in the buy zone, it just might break through the down trend line and come up to the .236 at 119.851 giving 61 pips.

USD MXN Daily charts

USD MXN

Update March 5, 2020

MONTHLY shows this pair is still trading in the range of 20.66092 and 17.93370. The rsi is in the buy zone.

USD MXN Monthly charts

DAILY this pair has had a significant movement up however, with the RSI just under the sell zone it seems to be in for a bit of a retracement. If it comes down to the .382 at 19.36661 that would give 4,7999 pips. If it came all the way down to the .618 that would give 8,065 pips. The rsi is just below the sell zone and looks like it might skim along before deciding to go back up to the sell zone or head down to the buy zone.

USD MXN Daily charts

HOURLY This pair had a nice movement up and settled on the .236 at 19.85875. It is following an up trend line and the RSI is in the buy zone. If it goes up to the .270 at 20.11744 that would give 2,794 pips.

USD MXN Hourly charts

March 3, 2020

EUR JPY

MONTHLY shows this pair had a significant down movement and is following a down trend line. The .236 at 116.610 is 340 pips down from the current position. The rsi has just reached the sell zone.

EUR JPY Monthly charts

DAILY shows this pair had a significant up movement and then came back down where it is 176 pips from the 1.618 at 117.835. The RSI has left the sell zone and is mid way to the buy zone. This pair should complete the fib and move down to the 1.618

EUR JPY Daily charts

HOURLY shows this pair made a significant down move crossing an up trend line, coming down as far as the .500 and then back up to the .382 at 119.614. With the RSI in the buy zone it appears this pair is ready to gartley up to the .180 at 120.543 which would give 78 pips.

EUR JPY Hourly charts

USD MXN

MONTHLY shows this pair in a range between 20.66092 on the .236 and 17.93370 below the .618. If this pair goes to the .860 at 17.11077 that would give 23,271 pips. However, since the RSI is in the buy zone it is more likely to go to the .236 at 20.66092 – 12,865 pips up from the current position.

USD MXN Monthly charts

DAILY shows this pair made a huge movement up and then an engulfing candle down. It came down to just below the .500 at 19.14967 and then back up to the .382 and it’s current position at 19.41395. With the rsi in the sell zone it should come down to the .618 at 19.04367 giving 3,778 pips.

USD MXN Daily charts

HOURLY shows this pair starting to make another down move and should reach the 1.618 at 19.10836 giving 3,121 pips. The rsi is just below the sell zone and once it reaches the sell zone, it should start travelling down.

USD MXN Hourly charts

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Was this article helpful for you? What do you think of the USD MXN and EUR JPY currency pairs? I often use Pivot points in my analysis. I have already written an article where I explained in detail how target trading works.

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