EUR/JPY looks grim

EUR/JPY looks grim

2019-11-11 • Updated

Trade idea

SELL 116.20; TP 115.40; SL 116.60

The current risk aversion is encouraging the safe-haven demand for the JPY, while the weakness of the euro area’s economy is hurting the EUR. As a result, EUR/JPY will likely remain under pressure. Last week’s attempt of the pair to recover failed. Now there are all reasons to expect the continuation of the slide to lower levels, especially as long as the euro remains below the weekly pivot point at 117.18. The evident target is the 78.6% Fibonacci retracement level of the 2016-2018 advance at 115.40. 

EURJPY.png

Similar

AUD: Trade Ideas
AUD: Trade Ideas

Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...

USD: CPI Carries The Dollar to Pivots
USD: CPI Carries The Dollar to Pivots

The higher-than-expected inflation data for January has reignited concerns about rising prices and its implications for Federal Reserve policy. While investors had anticipated rate cuts in the near term, the hot inflation print may delay such actions. As the Fed navigates the delicate balance between containing inflation and...

Latest news

What To Trade In March
What To Trade In March

The month of February saw markets make several instinctive moves as well as create opportunities for proper leveraging of fundamental releases. Despite being a leap-year, there wasn’t any real impact on price delivery in the course of the month. As we await the opportunities that lie ahead in the month of March, here are a few thoughts to consider.

CHF: Key Zone Could Yield Strong Reactions
CHF: Key Zone Could Yield Strong Reactions

USD/CHF saw a rebound after declining for two days straight, climbing towards the important psychological level of 0.8800 during Wednesday's early Asian trading session. There's some pressure on the Swiss Franc (CHF) as traders await the Swiss ZEW Survey – Expectations report scheduled for later today. Moreover, investors are keeping...

USD Expected To Recover Some Strength
USD Expected To Recover Some Strength

In the early hours of Tuesday, the US Dollar faces challenges in maintaining its strength against major currencies, with the US Dollar Index struggling to surpass the 104.00 mark. Investors are eagerly anticipating the release of key economic data, including January Durable Goods Orders and the Conference Board's Consumer Confidence Index for February. Additionally, the economic calendar includes reports...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera