Refer a friend

The EURJPY price could continue to move lower in line with the bearish 4hr trend. In this video we highlight the supply zone to watch.

Watch the video to learn more…

EURJPY Analysis 

The price of EURJPY could continue lower this week as the uncertainty in the market should benefit the JPY as it usually strengthens in these conditions. The Euro has been declining of late as the ECB said it would not hike rates despite the rising inflation. This would have disappointed investors which would have been looking for the central bank to take action. This combined with the uncertainty in the markets surrounding the invasion of Ukraine has added to Euro’s fall.

EURJPY forex chart of the day

If the EURJPY price is going to move lower we should see the market retest a supply zone and find sellers. The price is at a major support level however fundamentally this pair should continue to move lower. The supply zone has formed around 129.00 as this was the area where the last bullish candle was before the market broke into new lows. If the price retests this zone and we see bearish price action we could look for short trading opportunities. 

Do you trade USDJPY? you can see our latest analysis here.

Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.

Join us on Telegram
and get real-time
alerts on
Forex,
Indices, Gold, Crypto
and Share CFDs

Join now for free
telegram cta
bbjam graphic

Sign up to
Blueberry Jam

Back up your trade positions with insights
and how-to-guides, straight to your
inbox every week

Thank you. You have successfully subscribed to Blueberry Jam!