EUR/JPY Correction May End Soon!

Olimpiu Tuns

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


EUR/JPY was into a corrective phase after reaching the 132.36 level. It has declined as much as 130.98 where it has found support again. Now it has rebounded jumping above the immediate downtrend line signaling that the swing lower could be over.

Euro could resume its appreciation if the German Factory Orders and the Euro-zone retail Sales will come in line with expectations or better. Technically, we still have to wait for confirmation before going long on this pair. The pressure is still high after Nikkei’s temporary decline.

EUR/JPY H4 Chart Technical Analysis!

EUR/JPY found support at 130.97 level and now is pressuring the weekly pivot (131.31) and the 38.2% level. Jumping and stabilizing above these levels could signal further growth ahead.

Its failure to reach the descending pitchfork’s median line (ML) signals that the pair could come back higher towards the upper median line (UML). Though, EUR/JPY could move sideways in the short term before really developing a new swing higher.

Conclusion!

The rejection from the 50% retracement level followed by a valid breakout above the weekly pivot, a new higher high, could signal a new upside movement. EUR/JPY will increase if the JP225 will resume its growth.

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks.

He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

Leave a Reply

Your email address will not be published. Required fields are marked *