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EUR/JPY, through ma cluster to meet 1hr 200 SMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - EUR/JPY is currently making further gains on a euro bid environment and is currently testing the 200 SMA on the hourly chart at 132.73 having broken clear of the sma cluster through the 100 and 20 SMA at 132.39.

    There is no rhyme nor reason to be seeing euro strength although the European bourses were down and the market was very long of the greenback post the Fed. Any profit-taking in thin markets triggering stops could be causing exaggerated gains as EUR/USD now approaches the 1.0980's at time of writing for another test of the highs scored at 1.0984 earlier.

    These holiday markets moves are what they are and focus remains on 2016 after a year full of surprises, shocks and volatility returning. Will direction take a hold next year or will it be much of the same volatility with plenty of uncertainty?

    This was discussed last week when 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 commentary around the BoJ, currency wars, the Fed and ECB.

    EUR/JPY levels

    Technically, Karen Jones recently explained that 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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