DAX ®12.308,39+0,01%TecDAX ®2.667,15-0,39%Dow Jones24.843,06+0,47%NASDAQ 1006.899,94+0,20%

EUR/JPY Surges and Breaks Above 132.00; Is this a Short-term Reversal Sign?

| Quelle: JFD_RESEARCH_TECHNICAL_ANALYSIS | Lesedauer etwa 3 min. | Text vorlesen Stop Pause Fortsetzen

EUR/JPY surged during the Asian session Tuesday, and during the European morning it managed to break above the 132.00 key resistance, as well as the neckline of a possible inverted head and shoulders formation. Having this in mind and that the pair looks to be trading above a potential new upside support line, taken from the low of the 5th of March, we believe that the short-term outlook of this pair may have turned positive.

Currently, the rate is trading near the 200-EMA on the 4-hour chart, and if the bulls manage to stay in charge and drive the battle above that EMA, then we would expect them to aim for the 133.00 hurdle, defined by the peak of the 21st of February. A break above that barrier could extend the rally towards our next resistance of 133.40.

Our short-term oscillators detect strong upside speed and corroborate our view that the pair may be poised to continue trading north. The RSI rebounded from near its 50 line and now looks to be heading towards 70, while the MACD lies above both its zero and trigger lines, pointing up.

On the downside, a break below the new upside support line and the neckline of the aforementioned H&S formation could signal that the bulls have abandoned the game and may open the way for the 131.00 support territory, marked by yesterday’s low. Another dip below 131.00 could set the stage for our next support of 130.50.

EURJPYH4 130318



The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

  • Technical Analysis
  • Forex
  • FX
  • 4H
    no-reply@jfdsystems.com (Charalambos Pissouros)



    Aktuelle Videos

    zur Mediathek
    Charttechnischer Ausblick auf die Finanzmärkte 2018

    Börse Stuttgart Anlegerclubschliessen
    Börse Stuttgart

    Corning, Bechtle, Geely Automotive etc.

    Das neue Anlegermagazin gibt wieder
    spannende Einblicke in vielversprechende Unternehmen verschiedenster Branchen. Hier kostenfrei lesen!

    Jetzt kostenlos Mitglied werden
    Diese Seite empfehlenschliessen
    Interessant, oder?
    Teilen Sie diese Seite auf Facebook, Google+ oder Twitter
    Aktuelle Umfrageschliessen
    Die Siemens-Medizintechniksparte Healthineers ist letzte Woche an die Börse gegangen. Wird das Unternehmen langfristig ein Erfolg an der Börse werden?
    Jetzt abstimmen!
    Alle Umfragen ansehen