(VIANEWS) – EUR/JPY (EURJPY) has been up by 2.95% for the last 21 sessions. At 17:07 EST on Friday, 17 November, EUR/JPY (EURJPY) is $162.30.
Eur/jpy price analysis: dips amid risk-off mood, as tweezers top suggest downside expected
From a technical standpoint, a ‘tweezers-top’ formed in the EUR/JPY daily, though further downside is needed below the November 15 swing low of 163.07 to sponsor a leg lower. , On the other hand, EUR/JPY sellers’ failure to crack below 163.00 could open the door for further upside, with the first resistance seen at the 164.00 figure.
EUR/JPY’s yearly highs and lows, it’s 18.118% up from its 52-week low and 1.205% down from its 52-week high.
Volatility
EUR/JPY’s last week, last month’s, and last quarter’s current intraday variation average was 0.42%, 0.18%, and 0.34%, respectively.
EUR/JPY’s highest amplitude of average volatility was 0.42% (last week), 0.34% (last month), and 0.34% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, EUR/JPY’s Forex is considered to be oversold (<=20).
Previous days news about EUR/JPY (EURJPY)
- Eur/jpy price analysis: hits a 15-year high, momentum remains constructive. According to FXStreet on Thursday, 16 November, "From a monthly perspective, the EUR/JPY is set to test July’s 2008 high of 169.97, ahead of challenging the 170.00 psychological level. ", "Zooming into a weekly chart, the EUR/JPY prints a three-white soldiers chart pattern, which suggests buyers are in charge as momentum builds to the upside. "
- Eur/jpy remains capped below the 164.00 mark, further upside looks favorable. According to FXStreet on Thursday, 16 November, "The EUR/JPY cross trades with modest intraday losses during the Asian session on Thursday. ", "However, the divergence in the monetary policy between the European Central Bank (ECB) and the Bank of Japan (BoJ) still exerts some pressure on the Japanese Yen (JPY) and lends support to the EUR/JPY cross. "
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