Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Daily Forex Update: EUR/JPY

Published 08/20/2014, 02:32 AM
Updated 03/09/2019, 08:30 AM

Autochartist recently identified the Down Channel chart pattern on the daily EUR/JPY charts – as you can see from the following trade alert for this currency pair. EUR/JPY is expected to break this Down Channel and then to rise to the target level 138.04 in the next 3 trading days. Autochartist set the stop-level for this forecast at 135.72 (point A). This point formed recently, when the pair reversed up from the support zone located between the support level 136.00, lower weekly Bollinger Band and the 38.2% Fibonacci Correction of the previous weekly upward impulse from the start of 2013.

EUR/JPY

The weekly EUR/JPY chart below shows the aforementioned support zone:

EUR/JPY Weekly Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.