EUR/JPY Technical Outlook before the Rate Decisions

The BOJ's policy rate will push the Yen to rise a little.

Technical Analysis
Jul 17, 2017
EUR/JPY Technical Outlook before the Rate Decisions

This week the markets are looking forward to the rate decisions of two important banks - the European Central Bank and the Bank of Japan. This will cause a huge volatility. We will take a look at the instrument most likely to be affected, the EUR/JPY currency pair, and hunt for good opportunities for this week.

The EUR/JPY pair recorded its highest levels in 17 months at 130.75 and then it bounced back to trade now at 129.00. It declined last week on the release front as the Eurozone Final CPI edged down to 1.3%, matching the forecast. On Tuesday Germany and the eurozone will release ZEW Economic Sentiments.

The pair broke an important support level at the moving average 50 and it’s trading now at an important key area at the upside trend line. We predict it will break the trend line and decline further but we have to wait to see where this candle will close exactly.

So, what can we do in the next hours?

As we mentioned above, we will wait for a candle close below the trend line below 128.70 and sell the pair, keeping our first target at 127.50 and the second one at 126.20; that's in case the pair breaks the second trend line.

This week we have to be careful in our trades because we have important events which will cause high volatility in the market such as a decision from the BOJ regading the policy rate and the press conference for Kuroda, as well as the minimum Bid Rate for the European Central Bank on Thursday.

SuperForex
Qatar Crisis Continues

Technical Analysis

Qatar Crisis Continues

Qatar is still under blockade by Saudi Arabia, the UAE, and two other countries. Can Qatar's economy weather this storm?

SuperForex
Jul 14, 2017
EUR/SGD: Short Review & Forecast

Technical Analysis

EUR/SGD: Short Review & Forecast

The SGD lost its chances to grow due to dissapointing statistics about the GDP and retail sales volumes. The rates continue in the consolidated range 1.564-1.578 SGD

SuperForex
Jul 14, 2017
Gold: Technical Overview

Technical Analysis

Gold: Technical Overview

The gold has been in a bearish trend, but holds some potential to reach new highs despite that.

SuperForex
Jul 13, 2017