Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/JPY holds 20-DMA support, 'Bearish Anti Gartley' keeps bias lower

  • EUR/JPY is trading a narrow range on the day, capped below 5-DMA on the upside.
     
  • JPY remains bid as markets witnessed a slight turnaround in risk condition amid a renewed uptick in treasury yields and Asian equities.
     
  • Caution to remain ahead of Comey’s testimony and Trump’s Budget release next week.
     
  • German PPI beat forecasts, but EUR remains muted, focus now on Eurozone Current Account data.
     
  • EUR/JPY has held 20-DMA support at 122.97, break below will see drag lower.
     
  • Bearish 'Anti Gartley' pattern on daily charts, adds downside bias.
     
  • Stochs are biased lower and RSI flat-lined after rollover from overbought levels.

Support levels - 122.97 (20-DMA), 122.25 (23.6% Fib of 114.85 to 124.53 rise), 122

Resistance levels - 124.28 (5-DMA), 124.54 (May 9 high), 124.65 (channel top & May 2016 high)

Call update: We had recommended a short call (http://www.econotimes.com/FxWirePro-5-DMA-caps-upside-in-EUR-JPY-good-to-go-short-on-rallies-709753).

Recommendation: Stay short. Hold for targets.

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 3.10099 (Neutral), while Hourly JPY Spot Index was at 83.9531 (Bullish) at 0950 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

July 27 21:00 UTC Released

KRBOK Manufacturing BSI*

Actual

81 %

Forecast

Previous

81 %

July 27 15:00 UTC Released

USKC Fed Composite Index

Actual

10 mln

Forecast

Previous

11 mln

July 27 23:00 UTC 1818m

JPCPI Core Tokyo YY*

Actual

Forecast

Previous

0.1 %

July 27 23:00 UTC 1818m

JPCPI, Overall Tokyo*

Actual

Forecast

Previous

-0.3 %

July 27 23:00 UTC 1818m

KRIndustrial Output YY*

Actual

Forecast

Previous

0.1 %

July 27 23:00 UTC 1818m

KRService Sector Output Gr*

Actual

Forecast

Previous

-0.3 %

July 27 23:00 UTC 1818m

KRIndustrial Output Growth*

Actual

Forecast

Previous

0.2 %

July 27 23:01 UTC 1919m

GBBank Lending MM*

Actual

Forecast

-11 %

Previous

-10 %

July 27 23:01 UTC 1919m

JPJobs/Applicants Ratio

Actual

Forecast

-11 %

Previous

-10 %

July 27 23:30 UTC 4848m

JPKC Fed Manufacturing

Actual

Forecast

0.6 %

Previous

-0.1 %

Close

Welcome to EconoTimes

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