Daily Market Analysis by Exness - EUR/JPY

25.08.2014 9:09 EURJPY
In the short-term perspective, the EURJPY pair may test the resistance level of 138.00

Buy on rebound from 137.33 level with 138.00 target. Stop loss = 136.80.

Reason for the trading strategy.

Significant weakening of the yen against the United States dollar contributed to the purchasing of other yen courses, including the EURJPY. Meanwhile, a statement by M. Dragi on the readiness of the ECB to take additional measures to fight deflation in the euro zone will continue to be a medium-term bullish factor for the euro. From a technical point of view, after adjusting the support level of 137.33, the EURJPY pair may again attempt to test the level of 138.00.

EURJPY, Daily

27.08.2014 10:10 EURJPY
EURJPY is holding steady at 136.81, despite the decline in the consumer confidence index for Germany compiled by Gfk

Sell on a level breakthrough of 136.81 with 136.35 target. Stop loss = 137.20.

Reason for the trading strategy.

The September consumer climate index for Germany compiled by Gfk fell from 8.9 p. to 8.6 p, indicating a probable future reduction in investment spending in the largest eurozone economy. These purchases do not contribute to the purchase of euro-cross courses. During the day, we can not rule out the breakdown of the 136.81 local support level for the EUR/JPY pair.

EURJPY, H4

29.09.2014 9:09 EURJPY
EURJPY: consolidation in the range of 138.38 - 139.08

Buy on a level breakthrough of 139.08 with 140.15 target. Stop loss = 138.50.

Reason for the trading strategy.

The weakening of the yen against the US dollar contributes to the stabilization of the EURJPY cross-rate in the range of 138,38 - 139.08. Prior to the ECB October meeting, where an announcement about the ABS program is likely to be made, the EURJPY pair will probably try to test the 139.65 and 140.15 levels.

EURJPY, H4

Great analysis. Any breakout or breakdown the range will show us the direction.

10.10.2014 9:09 EURJPY
The EURJPY pair can update the support level of 136.60

Sell on a level breakthrough of 136.60 with 135.80 target. Stop loss = 137.10.

Reason for the trading strategy.

The EURJPY pair had a hard time maintaining the support level of 136.60 against the background of curtailing of the carry trade operations on the financial markets. The August statistics on the volume of industrial production in Italy, of which we can find out at 8.00 GMT, may provoke a fall below this level.

EURJPY, H4

15.10.2014 7:07 EURJPY
EURJPY: consolidation after the publication of the volume of industrial production in Japan

Buy on a level breakthrough of 136.55 with 137.93 target. Stop loss = 136.00.

Reason for the trading strategy

Yesterday’s collapse of the EURJPY cross-rate was provoked by the news about a decrease in industrial production in the euro zone by 1.8% (m/m). However, in Japan, a similar indicator decreased by 1.9% (m/m) in August. From a technical point of view, the resumption of euro purchases should be considered at the resistance level breakthrough of 136.55.

EURJPY, H4

27.10.2014 9:09 EURJPY
In the short term, the EURJPY pair could test the 137.93 mark

Buy on rebound from 137.02 level with 137.93 target. Stop loss = 136.50.

Reason for the trading strategy

The euro cross rates are rising today after the publication of generally favorable results of stress tests carried out by the ECB. The EURJPY pair, having overcome the 137.02 resistance level, in the near future will probably try to test the 137.93 mark.

EURJPY, H4