EUR/JPY: making a minor recovery, but what about 2016?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - EUR/JPY has recovered from 131.00 and targets the 100 SMA on the 1hr chart at 132.57 as the euro picks up further demand in thin trade while the dollar gets taken down in USD/JPY continuing its decline below the 200 SMA on the hourly sticks at 121.60.

    The question from here is not about this week, as markets are going to get dull, but about 2016 and the outlook in the greenback and the BoJ as well as what the ECB will be doing in respect to QE.

    Last Friday, FXStreet hosted a special event about what 2016 might hold for the Forex traders. The panelists were Ashraf Laidi, Boris Schlossberg, Adam Button and Valeria Bednarik. Today, we want to share with you the recording of the whole show. Watch now and look out for USD/JPY, EUR/USD, ECB and BoJ commentary.

    EUR/JPY levels

    Technically, Karen Jones, chief analyst at Commerzbank noted that EUR/JPY has been rejected by the 4 month resistance line at 134.13 attention reverts the support and namely the 20 day ma at 132.15. "Below here will see the 129.67/28 zone retargeted (recent low and Fibo)."

    She added, "It is interesting to note that the intraday Elliott wave count remain positive and suggest recovery from the 20 day ma to 134.13. There is scope for the top of the channel at 135.85."
    For more information, read our latest forex news.

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