EUR/JPY is eyeing a potential bullish breakout from a pennant structure on the H4 chart, putting the focus on whether the price can retest the April highs. With momentum indicators starting to improve and the looming BOJ decision carrying major implications for the yen, the setup offers a blend of technical opportunity and event risk.
The backdrop in EUR/USD is likely to be determined at least partially by the time frame with which the trader or analyst is looking. From a fundamental basis, there's been periods where the backdrop has appeared to be divorced from the price action such as the sliding sell-off in March even as the European Central Bank was widely considered to be on the way to rate hikes.
EUR/JPY edges higher as policy caution, Middle East war temper Yen strength
EUR/JPY Price Forecast: Holds above 186.50 to test nine-day EMA barrier
EUR/JPY falls to near 186.50 as risk aversion increases on Middle East uncertainty
EUR/JPY Price Forecast: Remains above 187.00 as bullish bias prevails
EUR/JPY steadies above 187.00 following German ZEW Survey data
EUR/JPY Price Forecast: Tests 187.00 resistance as bullish bias holds
Euro continues to look for a reason to rally against many currencies on Thursday, as we are starting to see more risk appetite enter the markets in general.
EUR/JPY Price Forecast: Weakens to near 187.50, while staying bullish above 100-day EMA
EUR/JPY steadies near 187.50 as improved oil prices weighs on Japanese Yen
EUR/JPY Price Forecast: Remains close to near 187.50, fresh record highs