Sat, Mar 25, 2023 @ 20:45 GMT
HomeContributorsTechnical AnalysisEUR/JPY Bearish Zig Zag Within Equidistant Channel

EUR/JPY Bearish Zig Zag Within Equidistant Channel

Bank holidays are usually days when low volatility is expected. Yen pairs tend to move with equities, especially Nikkei, so we have seen some volatility in the Yen during the Asia session. The POC for EUR/JPY comes within 115.75-95 (EQ channel top, ATR high, W H3, EMA89) and should reject the price. Targets are 114.55 and 113.90. If we don’t see any retracement in the pair, a breakout below W L3 114.35 should also aim for 113.90, which is D L5 – the strongest intraday support.

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