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
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Gold Price Forecast: XAU/USD jumps above $4,350 on US-Venezuela tensions Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.
Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.
Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.
West Texas Intermediate (WTI) oil price rises after two days of losses, trading around $74.20 during the Asian hours on Monday.
Gold (XAU/USD) opens with a modest bearish gap at the start of a new week and slides back closer to the $4,050 level during the Asian session.
Related Instrument
