EUR/JPY (week of 17-21/06)

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Weekly Summary

Euro-Yen is trading around 170.88 after ending the previous session at zero (up 0%) .

A good end to the trading week, EUR/JPY is up to 170.88, after closing yesterday at zero. Overall, a 0% move or 17,088 pips this week. (Start trading Euro-Yen at FXTM today).

Jun. 21, 2024

Euro-Yen gains positive traction for a 5th successive day

(23:18) GMT

Euro-Yen rallies 81 pips (0.48%) deep into the session, trading at 170.88.

EUR/JPY could be slowing down soon; it is getting close to the resistance line and is now at 171.12, only 23 pips away. Crossing the resistance line could, however, suggest that further gains are ahead. Despite posting gains so far today, Euro-Yen slid below its 3 day Simple Moving Average at 169.81 in earlier trade — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at 171.05, thereby suggesting that Euro-Yen is becoming overvalued.

Technical analysis of Euro-Yen price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.

A look at other currencies also shows bullish price action as USD/JPY leaps up 0.54% to trade around 159.77. GBP/JPY moves up 0.47% to trade around 202.1. USD/CHF is up 0.24%.

Trading mostly sideways for a month. Euro-Yen has gained 6% since its lowest print of 152.73 earlier this year.

follow us: