EUR/JPY Price Prediction: Pulls back to trendline of advance
Source Fxstreet
- EUR/JPY corrects back to the trendline for its bullish advance.
- Given the short and medium-term trends are bullish, the odds favor more upside if certain conditions are met.
EUR/JPY is pulling back within its short and medium-term uptrend. The pair has fallen to the level of the trendline (dashed line) for the rally since the September lows. Given the trend is bullish and technical analysis theory says “the trend is your friend” the odds favor more upside once the correction completes.
EUR/JPY Daily Chart
A break above 166.69 (October 31 high) would probably confirm a continuation higher.
Resistance at 167.96 (July 30 swing high) could act as a barrier to further upside. The minimum target for the breakout from the range lies at 169.68, the 61.8% Fibonacci extrapolation of the height of the range to the upside (orange-shaded rectangle).
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Silver Price Forecast: XAG/USD plummets below $76 as oil price posts fresh weekly highSilver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – fades an Asian session spike to the $95.80-$95.85 area, or a one-and-a-half-week top, and retreats to the lower end of its daily range in the last hour.
JPMorgan Chase has raised its year-end target for the S&P 500, noting that the core driver is not a simple recovery in sentiment, but rather upward earnings revisions for AI-related techn
AUD/USD pares its recent losses from the previous day, trading around 0.7160 during the Asian hours on Wednesday.
Tesla Q1 2026 Earnings Preview: 50,000-Unit Inventory Overhang, Energy Storage Halved, 5 Core Metrics Long-Term Investors Should Really WatchIntroductionTesla (TSLA) is scheduled to release its first-quarter 2026 earnings report after the U.S. market close on April 22. The Non-GAAP EPS consensus from Tesla's official compilation (comprisin
IntroductionTesla (TSLA) is scheduled to release its first-quarter 2026 earnings report after the U.S. market close on April 22. The Non-GAAP EPS consensus from Tesla's official compilation (comprisin
Related Instrument
