empty
27.10.2023 06:14 PM
EUR/JPY: reversal below 157.99

The currency pair rebounded in the last hours and now is located at 158.46 level at the time of writing. After the last sell-off, the rate tries to rebound. EUR/JPY could test and retest the immediate resistance level before going down. The Japanese Yen Futures' further growth could boost the JPY.

Fundamentally, the Spanish Flash GDP reported a 0.3% growth versus the 0.2% growth estimated. On the other hand, the Tokyo Core CPI came in better than executed as well.

EUR/JPY Retests The Sellers!

This image is no longer relevant

Technically, the price is trapped between the 158.93 and 157.99 levels. As you can see on the H1 chart, the rate escaped from the major ascending channel, but a downside continuation is far from being confirmed.

USD/JPY has found support on the former low of 157.99 again and now it challenges the broken uptrend line.

EUR/JPY Outlook!

A bearish closure below 157.99 activates more declines. This scenario is seen as a selling opportunity. This scenario could be invalidated if the rate makes a new higher high.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on March 27. Review of Yesterday's Forex Trades

The first price test at 150.12 occurred when the MACD indicator moved significantly below the zero line, limiting the pair's downside potential. For this reason, I did not sell

Jakub Novak 08:03 2025-03-27 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 27. Review of Yesterday's Forex Trades

The price test at 1.2875 occurred when the MACD indicator moved significantly below the zero line, limiting the pair's downside potential. For this reason, I did not sell the pound

Jakub Novak 08:03 2025-03-27 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 27. Review of Yesterday's Forex Trades

The price test at 1.0778 occurred just as the MACD indicator began to move down from the zero line, confirming a valid entry point for selling the euro

Jakub Novak 08:03 2025-03-27 UTC+2

Intraday Strategies for Beginner Traders on March 27

The euro again collapsed strongly, pulling down other risky assets, including the British pound. In addition to yesterday's strong U.S. data, which supported the dollar, pressure on risk assets

Miroslaw Bawulski 07:21 2025-03-27 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 26th (U.S. Session)

Trade Review and Trading Advice for the Japanese Yen There were no tests of the designated levels during the first half of the day. During the U.S. session, a series

Jakub Novak 17:35 2025-03-26 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 26th (U.S. Session)

Trade Review and Guidance on Trading the British Pound The test of the 1.2927 price level occurred just as the MACD indicator began moving downward from the zero line, confirming

Jakub Novak 17:29 2025-03-26 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 26th (U.S. Session)

Trade Analysis and Guidance on Trading the Euro There were no tests of the levels I indicated during the first half of the day. A lack of statistical data from

Jakub Novak 17:27 2025-03-26 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 26. Review of Yesterday's Forex Trades

The test of the 149.81 level occurred when the MACD indicator had already moved significantly below the zero line, which limited the pair's downside potential. For this reason, I didn't

Jakub Novak 08:08 2025-03-26 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 26. Review of Yesterday's Forex Trades

The test of the 1.2938 level coincided with the MACD indicator just starting to move downward from the zero line, confirming a valid entry point for selling the pound. However

Jakub Novak 08:03 2025-03-26 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 26. Review of Yesterday's Forex Trades

The test of the 1.0812 price level coincided with the MACD indicator just beginning its downward move from the zero line, confirming a valid entry point for selling the euro

Jakub Novak 08:03 2025-03-26 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.