EUR JPY Technical Analysis | EUR JPY Trading: 2020-03-17 | IFCM Tanzania
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EUR JPY Technical Analysis - EUR JPY Trading: 2020-03-17

EUR/JPY Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 120,5

Buy Stop

Below 115,8

Stop Loss

Mary Wild
Mary Wild
Senior Analytical Expert
Articles2058
IndicatorSignal
RSI Buy
MACD Sell
MA(200) Buy
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

EUR/JPY Chart Analysis

EUR/JPY Chart Analysis

EUR/JPY Technical Analysis

On the daily timeframe, EURJPY: D1 could not break down the medium-term neutral range. Now it is trying to reach to its upper border, but still needs to overcome the resistance line of the short-term trend at the beginning. A number of technical analysis indicators have formed signals for a further increase. We do not exclude bullish movement if EURJPY rises above the 200-day moving average line and above the upper Bollinger line: 121.4. This level can be used as an entry point. The stop loss is possible below the Parabolic signal, the lower Bollinger line and the low since April 2017: 115.8. After opening the pending order, we move the stop loss following the signals of Bollinger and Parabolic to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can change to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (115.8) without activating the order (121.4), it is recommended to delete the order: market sustains internal changes that have not been taken into account.

Fundamental Analysis of Forex - EUR/JPY

In this review, we want to present you a chart of a currency pair euro/Japanese yen. Will the EURJPY quotes grow ?

The upward trend means the strengthening of the euro and the weakening of the Japanese yen. The ECB rate is 0% with inflation in February of 1.2% in annual terms. The Bank of Japan rate is -0.1% with inflation in January 0.7% in annual terms. Other macroeconomic indicators of the EU and Japan are also close to each other. Probably the exchange rate of the currency pair may vary depending on the success of each country in the fight against coronavirus, as well as on the effectiveness of government support for both economies. Trade balance and inflation data for February will be published in Japan this week. In the Eurozone, the most significant data may be business activity indexes in Germany (ZEW), EU consumer confidence index for March and inflation in the EU for February in the 2nd reading, if it changes compared to the 1st reading (+ 1.2% )

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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