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  1. #1
    Veteran Member uj.forex's Avatar

    Trading EUR/JPY - Very good pair with good volatility !!!

    Hello there,

    Let's discuss the fundamentals and as well as the technicals for this amazing pair, having superb volatility and a vast movement on daily basis.

    Cheers

  2. #2
    Veteran Member uj.forex's Avatar
    The pair had an unusual move yesterday where it plunged from a new fresh high of 133.80 down till 130.00 level, as the monetary policy defined by the Bank of Japan in terms of easing measures remains focused. According to the BoJ, the easing measures are going smoothly and are not hurting inflation but the concerns remain there in the Japanese stock market.

    Later in the U.S session on Thursday, the pair bounced back up and sustained its move above the critical level of 131.43 and kept itself in the bullish zone. Currently, the pair is moving at 131.30 where a move below 131.25 could lead the pair to test 130.75 and breaking of which could lead the pair to test yesterday’s low of 130.00.
    As on the upward side, a move above its daily pivot point at 131.45 could open its next targets of 131.96, 132.18, breaking of which could show 132.90.

  3. #3
    Veteran Member uj.forex's Avatar
    the pair wud remain bearish as long as it is below 131.30.... a break above its pivot point at 131.13 could result in taking the pair to 131.30, 131.65, breaking of which cud show 132.17...

    as on the downward side, if it breaks 130.45 support level, then next targets wud be 129.76 and 129.247

  4. #4
    Veteran Member uj.forex's Avatar
    dovish statements by BoJ monetary policy makers... Yen still confused as to what direction it shud go.... EJ pplaying in a wider range... where a sustainable move below 130.00 could create curtains for the pair.. as it wud enter the bearish zone...

  5. #5
    Veteran Member uj.forex's Avatar
    currently the pair is at 130.64 where if it breaks 130.80 then its next target wud be 130.94 and then move till 131.32... where sellers may enter again...

    as on the downward side, if it breaks 130.45 then it wud test its pivot point level of 130.22 and then next supports of 129.85 and 129.477...

  6. #6
    Veteran Member uj.forex's Avatar
    after losing sharply against the YEN last week, the pair gained immensely against the YEN on Friday after US employment data... and made a fresh high of 129.95.... it re-tested the same level today in the Asian session as well and is currently at 129.71... if it breaks today's high then its next targets wud be 130.58 and 131.11.


    if it fails to break today's high, then it may start falling and could fall as much as 100 to 130 points... to test its daily pivot at 128.10

  7. #7
    Veteran Member uj.forex's Avatar
    sharp fall throughout this week was followed by a huge bullish rally on thursday in the U.S session of around 300 points... after which it retraced back with more than 100 points.. the pair wud remain bullish as long as it is above 126.50....

  8. #8
    Veteran Member uj.forex's Avatar
    EJ closed well below its critical level of 126.50 on friday.... that entered it in the bearish zone... currently it has retraced back upwards, where a break below its pivot point at 126.33 wud lead it to fall till 125.45 and 125.20....

  9. #9
    Veteran Member uj.forex's Avatar
    a sharp fall could be seen next week in the pair if the pair closes below the critical level of 129.10 ... the pair played in a wide range all this week, where Kurod'as speech again failed to give a clear direction to this pair... and as well as USD/JPY

  10. #10
    Veteran Member uj.forex's Avatar
    the pair closed above 127.61 yesterday that allowed it to enter bullish zone... therefore, it gained massively today in the asian session and is currently at 128.96.... as stated earlier in my other post, my weekly target is about to be achieved that is near 130.... im bullish on EJ and UJ ...

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