|Day's range||128.44 - 129.684|
|52-week range||125.08 - 137.23|
The EUR/JPY has formed an obvious ascending trend line at support and the price is looking bullish. W L5 & M L4 are supporting the rising trend line.
Italy’s 10-year bonds now yield 3.63%, just 1.02% below Greece. German 10-year yields are 0.54% despite almost doubling this year. How can this spread affect global equity markets?
A bit of hesitation on the GBPJPY. The pair is currently drawing a right shoulder of the H&S pattern. This is not happening in a random place. We are on the mid-term resistance created by the top from the middle of July. Currently, the most crucial level is the orange line. The breakout here will bring us a sell signal.
In this introduction, we will define the types of currency pairs and cover some of the basics you’ll need to know before you begin trading the ‘exotics’.
Today, we will focus on the two pairs with the JPY an Oil. Let’s start with the EURJPY, where yesterday’s daily candle is a shooting star. It would be meaningless if not the fact that this candle is being present on an important horizontal resistance.
One wonders how the Eurozone will achieve higher core inflation if monetary policy slowly tightens and the economic activity slows. Should the Euro appreciate and get back above, say, the 1.20 mark against the greenback, it will be even harder for inflation to accelerate.
>> The EUR/JPY formed an ascending trend line along with the inverted SHS pattern. A close above the M H3 camarilla pivot suggests a further bullish pressure. <<
The EUR/JPY has formed a POC zone straight at D H3/DH4 but below the camarilla W H3 Pivot. Trend lines are suggesting a confluence with technical tools (EMAs, Pivots, Candlesticks) for further bearish movement if the price stays below 129.58.
The last week was very eventful for the USDJPY. Apart from the technical analysis, positive sentiment was strengthened here by the rise of the global exchanges. In the last week, USDJPY broke three important resistances.
Having reversed from 112.15-20 horizontal-resistance, the USDJPY now rests on 50-day SMA level of 110.80, which if broken on a daily closing basis could further fetch the quote downwards to 110.55 and 110.25-20 support-zone. In case the pair refrains to respect the 110.20 mark, its plunge to 100-day SMA level of 109.55 and a consecutive south-run to 109.00 can be expected. Should prices take a U-turn from 50-day SMA, the 111.40 may offer immediate resistance to the pair before highlighting the 112.15-20 area again. However, a D1 close beyond 112.20 might not hesitate challenging the 112. ...
The consequences of the trade conflict between the US and China threaten to affect the growth of the entire region, which puts pressure on the yen as well. Global stocks trade slightly lower on Monday morning.
According to different estimates, there is a risk now for Japan to get involved in the trade wars between the US and China. As of yet, there are no compelling reasons to be afraid of it, but in theory, such possibility really exists.
Last week was very volatile, especially for the USDJPY. Today, USDJPY reached a combination of two important supports. Price Action says that the broken resistance should be tested as a support and that is exactly what is happening now.
Trump’s comments may have ignited the initial sell-off in the Dollar/Yen, however, they are now an afterthought due to the reports that the BOJ is considering a shift in monetary policy. The story is still breaking and details are sparse, but investors are wasting no time waiting for official word which probably won’t come out until next week’s central bank meeting.
The European Union and Japan signed a historic deal on Tuesday that will remove any tariffs on products they exchange.
the ECB will be releasing its monetary policy meeting minutes. The minutes cover the June ECB meeting where policymakers announced a taper to the QE program and an exit from QE by December 2018.
Overall, it was a “cheerleading” speech with Draghi emphasizing the accomplishments of the ECB and the importance of the European Union unifying against the threat of increased protectionism in order to promote economic prosperity.
The USDJPY is coiling for a significant break and the technical analysis points to higher levels. In this case, the vertical movement is the strong bullish reaction the pair had when President Trump got elected one and a half years ago. Typically, the USDJPY is correlated directly to the United States equity.
The European Central Bank president, Mario Draghi was speaking at the banking conference event in Portugal last week. The main take away from the speech was that the ECB president promised that the ECB would take time to hike interest rates.
The breakaway gap in the Euro (in this article, we use “Euro” to refer to the currency pair EUR/USD) on the 24th of April 2017 on the back of positive first round French election results that weekend broke through a resistance trendline from 2014, a 5-month ascending triangle and the 200-day moving average. It heralded a reversal in the trend of the Euro and what followed was a near 1-year rally that took the price from 1.087 to a high of 1.2558, a rise of 15.5%. After consolidating in a symmetrical triangle, the Euro broke to the downside and has been falling for over a month now.
Market Focus, Key findingsECB’s Weidmann says first ECB Rate Hike could follow the end of Quantitative Easing more closely than in the USAIndustrial Producer Prices rose by 0.1% in the EURO AREA (EA19) and by 0.2% in the EU28European Commission forecasts EURO ZONE inflation will accelerate to 1.6 pct YoY in 2019 from 1.5 pct YoY seen in 2018
Though there still remains a significant amount of uncertainty, recent populist movements in Italy have created the possibility of ending the national use of the Euro. Naturally, as a nation of over 60 million and the third largest nation in the Eurozone (after Germany and France), Italy’s abandonment of the Euro could spark a wide variety of far-reaching changes.