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
Gold Price Forecast: XAU/USD surges to all-time high above $4,650 amid Greenland tariff threatsGold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
Meme Coins Price Prediction: DOGE, SHIB and PEPE tumble with Bitcoin, as support levels come into focusDOGE, SHIB and PEPE extend Monday losses as BTC drops below $93,000; DOGE stays under $0.1375/$0.1417 EMAs, SHIB eyes $0.00000678 support, and PEPE risks a slide below $0.00000500 toward $0.00000363.
DOGE, SHIB and PEPE extend Monday losses as BTC drops below $93,000; DOGE stays under $0.1375/$0.1417 EMAs, SHIB eyes $0.00000678 support, and PEPE risks a slide below $0.00000500 toward $0.00000363.
Bitcoin's recent fall to $91,800 signals a leverage reset, not a panic-driven sell-off, with $233 million in long positions liquidated.
Gold nears $4,700 record as US–EU trade war fears ignite haven rushGold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.
Gold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.
Bitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.
Related Instrument
