{"id":62421,"date":"2014-10-23T14:36:09","date_gmt":"2014-10-23T18:36:09","guid":{"rendered":"http:\/\/countingpips.com\/?p=62421"},"modified":"2014-10-23T14:38:02","modified_gmt":"2014-10-23T18:38:02","slug":"eurjpy-turnaround-eyes-138","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/eurjpy-turnaround-eyes-138\/","title":{"rendered":"EUR\/JPY Turnaround Eyes 138"},"content":{"rendered":"<div id=\"inves-2764857058\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 23, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>EUR\/JPY bounced off 61.8% Fibonacci line at 135.22;<\/li>\n<li>Bullish Engulfing Bar signals strong intentions for future gains;<\/li>\n<li>4H 200-Simple Moving Average eyed next;<\/li>\n<\/ul>\n<p><em>On Thursday Euro managed to completely turn the tables against a weakening Yen. EUR\/JPY shows multiple bullish technical signals, all pointing to future gains toward 138 and possibly even 139.15.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/EURJPY23rdOctober.png\" alt=\"EURJPY23rdOct\" \/><\/p>\n<p>EUR\/JPY rally began in the early hours of European session; when Euro sentiment received a boost as Spanish Unemployment Rate unexpectedly dropped to 23.7% while German and Euro-zone PMIs finally showed signs of stabilizing.<\/p>\n<p>Late last week EUR\/JPY showed the first reversal signs following its 700 pip sell-off down from 141 to 134. A large bullish Pin bar led buyers above the resistance trendline, also invalidating the Lower Highs swing structure. Unfortunately this rally was short-lived, with EUR\/JPY falling back as market participants appeared reluctant with the newly found direction.<\/p><div id=\"inves-3154431602\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>Today\u2019s rally confirms a bullish perspective, since a higher Low was formed on the 61.8% Fibonacci retracement level based on last week\u2019s upswing. Price action is showing a large Bullish Engulfing bar as EUR\/JPY is currently trading around 136.88. 20<sup>th<\/sup> October high at 137.00 was briefly tested during the U.S. session. A rally above this level will constitute a fresh buy signal, prompting buyers to target the 200-SMA line at 137.73 and the large pivot zone at 138.00. A secondary upside target resides at 139.15, where the 200-Day Moving Average will likely cap any rallies on their first attempt.<\/p>\n<p>This newly formed bullish scenario is likely to remain valid as long EUR\/JPY maintains a Higher High\/Higher Low configuration above 135.22.<\/p>\n<p>*********<br \/>\nPrepared by Alex, Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways EUR\/JPY bounced off 61.8% Fibonacci line at 135.22; Bullish Engulfing Bar signals strong intentions for future gains; 4H 200-Simple Moving Average eyed next; On Thursday Euro managed to completely turn the tables against a weakening Yen. EUR\/JPY shows multiple bullish technical signals, all pointing to future gains toward 138 and [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62421","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62421"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62421\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}