EUR/JPY Weekly Outlook

EUR/AUD’s correction from 1.7180 short term top continued last week, but downside is contained above 1.6474 support so far. Initial bias remains neutral this week first, and further rally is in favor. On the upside, above 1.6745 will argue that the pullback has completed, and turn bias back to the upside for retesting 1.7180. However, […]

Daily Pivots: (S1) 0.6688; (P) 0.6716; (R1) 0.6734; More… Break of 0.6713 resistance turned support indicates short term topping at 0.6798, on bearish divergence condition in 4H MACD. Intraday bias is back on the downside for 38.2% retracement of 0.6361 to 0.6798 at 0.6631. Strong rebound would be seen there to bring rebound. On the […]

EUR/JPY’s fall from 163.86 extended lower last week but turned sideway after hitting 155.45. Initial bias remains neutral this week first. Outlook will stay cautiously bearish as long as 160.01 support turned resistance holds. Below 155.45 will bring retest of 154.40 low first. Firm break there will resume whole decline from 1785.41 to 153.15 support, […]