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EUR JPY Technical Analysis - EUR JPY Trading: 2022-12-21
EUR/JPY Technical Analysis Summary
Below 138,8
Sell Stop
Above 147,1
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Sell |
EUR/JPY Chart Analysis
EUR/JPY Technical Analysis
On the daily timeframe, EURJPY: D1 exited the uptrend and broke down the 200-day moving average line. A number of technical analysis indicators have formed downward signals. We do not rule out a bearish movement if EURJPY: D1 falls below the latest low of 138.8. This level can be used as an entry point. Initial risk cap is possible above the latest up fractal, upper Bollinger band, 200-day moving average and Parabolic signal: 147.1. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (147.1) without activating the order (138.8), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - EUR/JPY
Bank of Japan (BOJ) tightened its monetary policy in the government bond market. Will EURJPY quotes continue to decline?
BOJ kept the rate at a negative level of -0.1%. At the same time, he expanded the yield range of Japanese long-term government bonds (JGB) by 50 basis points. After that, the 10-year JGB yield soared from 0.25% per annum to 0.4%. At the maximum of the day, it reached 0.447% per annum. The rise in yields caused strong demand for the Japanese yen, and it strengthened noticeably. Investors will now be waiting for significant statistics from Japan, which will be released on December 27: unemployment, retail sales, construction indicators. Japan Industrial Production figures will be published on December 28. No particularly important economic data is expected in the Eurozone until the end of the year, but the statistics of individual countries will still be published. On January 6, the preliminary European Union Consumer Price Index for December will be released.
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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.
