|Day's range||132.572 - 132.732|
|52-week range||131.4417 - 132.732|
The EUR/JPY has been following both the ascending trend line and the EMA perfectly and we might see the uptrend continuation. POC zone 131.50-60 could reject the pair on retracement. However if we don’t see any retracement pay attention to 131.75 rejection towards 132.00. Only above 132.00 we might see 132.40 that is D H5 – strong daily resistance. As long as the pair is kept above 131.25, bulls should be safe.
With a week-long descending trend-line aptly restricting the USDJPY’s latest recovery, the pair seems well inclined to re-test an upward slanting TL support, at 105.75 now, breaking which it can decline to 105.25 and then to the 105.00 round-figure. Though, 104.60 could restrict the quote’s additional downside, failing to which can highlight 61.8% FE level of 104.10. On the upside, aforementioned trend-line number of 106.70 may keep disappointing the short-term buyers, which if broken could escalate the pair’s moves towards 107.20 and 107.65 while 107. ...
The Euro has been losing value in forex for nearly a week. While the European currency is testing important support and looks vulnerable.
The U.S. dollar extended its advance against rivals on Wednesday, adding on from its first positive day in three sessions on Tuesday. Meanwhile, analysts focused on the Japanese yen, which dropped to a ...
The risk barometer that is the Japanese yen has plummeted on Wednesday, with the dollar surging to a one-month high against Japan’s currency, marking its largest one-day gain since January last year.
The Yen has effectively gotten stronger in the mid-term. Risk adverse trading in Asia has helped the Yen break through important support.
The Euro has gained on the heels of the interest rate hike via the U.S Federal Reserve. The Euro/ USD forex pair has provided a consistent range since January.
The Euro has continued to face headwinds versus the U.S Dollar short term. While range trading may prevail today, this will vanish as the U.S Fed’s monetary policy decision draws closer on Wednesday.
The Italian general election on Sunday 4th March will be another closely watched vote, with voters continuing to shift allegiances from the Establishment to the populist parties that have seen increased popularity in recent years.