EUR/JPY: bears are moving south

EUR/JPY: bears are moving south

2019-11-11 • Updated

On the daily chart, EUR/JPY is trading within descending channel. Bears keep the pair under control, and successful test of support at 118.6 will strengthen the risks of decline towards 117.35 and 116.6. Bulls still have chances to change the situation and make the pair form the inverted 5-0 pattern. To do that they will firstly need to overcome resistance at 119.95.  

On H1, EUR/JPY keeps forming the reversal widening wedge pattern. For this wedge to be formed the pair should overcome resistance at 119.8. On the other hand, decline below March low would allow the bears to keep going south.

Recommendation: SELL 118,6 SL 119,15 TP1 117,35 TP2 116,6 BUY 119,8 SL 119,25 TP 120,8. 


What to trade on April 11-15
What to trade on April 11-15

Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.

Global Reversal in USDJPY
Global Reversal in USDJPY

What happened? Historically investors treated the Japanese Yen as a safe haven in times of world crisis…

Latest news

Walmart earnings outlook
Walmart earnings outlook

Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera