Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

EUR/JPY was trading 0.33% lower on the day at 143.57 at around 05:50 GMT, consolidates break above Symmetric Triangle. 

On the data front, Germany’s GfK Consumer Confidence figures for March improved to -29.5 from -30.6 revised prior, but missed market forecasts of -29.2.

A less hawkish ECB talks join consolidation ahead of the key inflation numbers to support Euro bears.

Later in the day, ECB’s Economic Bulletin, preliminary readings of Germany’s HICP for March eyed for fresh impulse.

EUR/JPY price action has retraced dip below 200-DMA. GMMA indicator shows near-term trend has turned bullish. 

MACD confirms bullish crossover on signal line and Oscillators show bullish momentum. RSI is above 50 mark. 

Major Support Levels: 

S1: 142.84 (20-DMA)

S2: 141.92 (200H MA)

Major Resistance Levels: 

R1: 144 (Psychological mark)

R2: 145.74 (Upper BB)

Summary: EUR/JPY keeps scope for upside continuation. Bullish invalidation likely below daily cloud and 200-DMA. 
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.