EUR/JPY rises again after Thursday’s pullback. The next target on the upside is the August high at 138.40. EUR/JPY continues the weekly rally and is already flirting with the 138.00 zone on Friday. If the cross breaks above the August high at 138.39 (Aug 10), gains should accelerate further and revisit the 55-day simple moving […]
Tag: Crosses
EUR/JPY Price Analysis: Gains remain capped at 138.40 so far
EUR/JPY looks offered after two consecutive daily advances. Next up is the August high at 138.40. The EUR/JPY corrects lower after hitting weekly resistance just below 138.00 on Aug 17. Should the recovery be more serious, the cross should meet the next barrier at the 100-Day SMA at 138.13 before the more relevant August high […]
USD/TRY jumps to new 2022 highs above 18.00 after CBRT cut rates
USD/TRY hits a new all-time high beyond 18.00. The pair is now heading for the all-time high of 18.25 (December 20, 2021). The Turkish central bank cut the official interest rate by 100 basis points. The Turkish lira weakens to new lows against the dollar and makes the USD/TRY break above the 18.00 level for […]
EUR/JPY Price Analysis: Rises above the 20-DMA as buyers eye the 50-DMA
EUR/JPY rallies as buyers look for a break above the 100-day EMA at 138.10. The risk-off drive was no excuse for euro buyers to drive the shared currency higher. If EUR/JPY buyers fail to break above the 138.39 level, the pair would be exposed to selling pressure. The EUR/JPY rallies towards solid resistance around the […]
EUR/JPY Price Analysis: More upside remains on the cards in the near term
EUR/JPY extends gains above 137.00. Immediately on the upside is the August high at 138.40. EUR/JPY extends Tuesday’s gains and recovers the 137.00 zone and beyond on Wednesday. Should the recovery turn more serious, then the cross should meet the next barrier at the 100-day simple moving average at 138.10, before the more relevant August […]
EUR/GBP recovers 0.8400 and moves into positive positive territory
EUR/GBP rebounds from lows near 0.8380. United Kingdom: annual inflation reaches 10.1% in July. Advanced GDP reading for the second quarter of the Eurozone increased 3.9% year-on-year. After a decline towards the nearby 0.8380, the EUR/GBP recovered and in the last hour accelerated to the upside reaching daily highs at 0.8418, while GBP/USD falls decisively […]
USD/TRY: Test of 18.00 remains elusive so far
USD/TRY adds to Monday’s gains near the 18.00 mark. The current consolidation is still capped at 18.00. The CBRT is expected to maintain the current status quo. The lira depreciates even more and motivates the USD/TRY to once again challenge the upper end of the current range just below the 18.00 stick on Tuesday. USD/TRY […]
EUR/JPY Price Analysis: Recovery initially heading towards 138.40
EUR/JPY is trading with modest gains after two consecutive daily declines. If the rebound picks up pace, the cross could revisit 138.40. EUR/JPY leaves behind two consecutive daily declines and advances above 136.00 on Tuesday. Should the recovery become more serious, then the cross should meet the next barrier at the 100-day SMA at 138.08 […]
GBP/JPY Price Analysis: Falls on haven flows, back below 161.00
GBP/JPY extends its losses, going from around 163.00 to 160.60 in the last four days. Risk aversion in the forex space underpins safe haven pairs. GBP/JPY may resume its bearish bias below 160.34. Otherwise, a test of 162.07 is anticipated. GBP/JPY stumbles and refreshes two-week lows, awaiting a break below the 6 Jul low of […]
USD/TRY 18.00 level remains the big magnet for bulls
USD/TRY adds to recent gains near the 18.00 barrier. Turkey’s industrial production grew by 8.5% year-on-year in June. The CBRT sees inflation around 70% by the end of the year. the turkish lira remains on the defensive in the second half of the week and raises the USD/TRY until about 18.00 on Friday. USD/TRY rises […]