EUR/JPY Technical Analysis: Recovery is losing steam

The repeated failure to scale the hourly chart resistance at 126.37 and the rising wedge bearish reversal seen in the hourly chart indicates the corrective rally from the Aug.15 low of 124.90 has likely ended. As a result, a re-test of the recent lows below 125.00 cannot be ruled out. On th ...

EUR/JPY Technical Analysis: Interim support emerged around 125.00

Finally some respite for the decline in EUR/JPY. The cross is moving higher to the vicinity of 126.00 the figure backed on the generalized better tone around the single currency. EUR/JPY met contention in the 125.00 neighbourhood on Wednesday, where some dip-buyers turned up. The rebound ha ...

EUR/JPY could see some stabilization around 124.60 – Commerzbank

The cross could attempt to stabilize around the 124.60 region, suggested Axel Rudolph, Senior Analyst at Commerzbank. Key Quotes “Yesterday EUR/JPY came close to the May low at 124.62 around which we anticipated to see some stabilization. The cross has since bounced off yesterday’s lo ...

EUR/JPY: fast approaching the May low at 124.62 – Commerzbank

Analysts at Commerzbank explained that EUR/JPY had a quick move lower last week and was fast approaching the May low at 124.62 but seems to have stabilized at its current August trough at 125.15 for the time being.  Key Quotes: "Provided the 125.15 level continues to underpin, the lat ...

EUR/JPY Technical Analysis: Bear flag seen in hourly chart

The EUR/JPY hourly chart has created a bear flag - a bearish continuation pattern. A break below the flag support of 126.00 would signal a resumption of the sell-off from the pole high of 129.01 and would open the doors to 123.00 (target as per the measured height method). The hourly relativ ...

EUR/JPY grappling with 125.00 as risk aversion bolsters the Yen

The Euro is slumping against the safe-haven Yen as markets face continuing fears of Turkish contagion. Monday's calendar is a thin showing, but Tuesday resumes delivering meaningful measures. The EUR/JPY is trading into 125.40 as European markets come online for Monday after failing t ...

EUR/JPY room for a test of 128.11 – Commerzbank

In view of Axel Rudolph, Senior Analyst at Commerzbank, the cross could slip back to the 128.11 region. Key Quotes “EUR/JPY still targets the June 8 low at 128.11 which will be in focus once the July 4 and current August lows at 128.51/49 have given way. Below the 128.11 level the late Jun ...

JPY continues to receive plenty of the attention – TDS

Analysts at TD Securities note that the JPY continues to receive plenty of the attention following the BoJ's move last week and some follow-up news in the press. Key Quotes “The BoJ's Summary of Opinions for the July meeting showed varying views on rate hikes and policy tweaks bu ...