empty
30.10.2023 10:35 AM
EUR/JPY: more declines activated

The EUR/JPY extended its sell-off and now is located at 157.74 at the time of writing. The downside pressure is high, so more declines are favored. You knew from my previous analysis that the price action announced a potential larger drop.

Fundamentally, the Spanish Flash CPI reported only a 3.5% growth versus the 3.8% growth estimated. Furthermore, the German Prelim CPI and German Prelim GDP should be released as well and could bring high action. Tomorrow, the BOJ and the Japanese economic figures could really shake the price. Also, the Eurozone CPI Flash Estimate and Core CPI Flash Estimate should have an impact.

EUR/USD Massive Sell-Off!

This image is no longer relevant

From the technical point of view, EUR/JPY dropped deeper after retesting the broken uptrend line. I've talked about this scenario in my previous analysis.

As you can see on the H1 chart, the rate retested the median line (ml) of the descending pitchfork as well before extending its downward movement.

EUR/JPY Forecast!

You knew from my previous analysis that dropping below 157.99 activates more decline and represents a selling signal. A bearish closure below 157.69 confirms more declines towards the S1 (157.32).

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for GOLD (XAU/USD) for March 28-31, 2025: sell below $3,078 (technical correction - 21 SMA)

Important support is located around the 21 SMA at 3,035. This level coincides with the bottom of the uptrend channel, which could suggest a technical rebound in the coming days

Dimitrios Zappas 14:12 2025-03-28 UTC+2

Trading Signals for EUR/USD for March 28-31, 2025: sell below 1.0775 (21 SMA - 6/8 Murray)

Early in the American session, the euro is trading around 1.0771, below the 21SMA, and within the downtrend channel forming since March 14. The bias is bearish. Yesterday, EUR/USD attempted

Dimitrios Zappas 14:09 2025-03-28 UTC+2

EUR/USD. March 28th. Bears Retreat, but Haven't Surrendered

On Thursday, the EUR/USD pair rebounded from the 161.8% Fibonacci retracement level at 1.0734 and rose to the resistance zone of 1.0781–1.0797. A rebound from this zone would favor

Samir Klishi 10:48 2025-03-28 UTC+2

GBP/USD. March 28th. Disappointing Results from the British Economy

On the hourly chart, the GBP/USD pair on Thursday rebounded from the 1.2865 level, reversed in favor of the pound, and rose above the 1.2931 level, which carries no weight

Samir Klishi 10:36 2025-03-28 UTC+2

EUR/USD and GBP/USD March 28 – Technical Analysis

As the week comes to an end, the market remains indecisive, with no clear preferences evident. Yesterday, the bulls made some progress, adjusting the prevailing bearish sentiment. To confirm

Evangelos Poulakis 09:09 2025-03-28 UTC+2

EUR/USD Forecast for March 28, 2025

The key economic report yesterday—U.S. Q4 GDP—came in at 2.4% versus 2.3% expected. However, three major agencies—Moody's, Fitch Ratings, and S&P Global—warned of a potential downturn due to restrictive tariffs

Laurie Bailey 04:01 2025-03-28 UTC+2

GBP/USD Forecast for March 28, 2025

Although the U.S. data showed a growth of 2.4% compared to the expected 2.3%, the dollar index fell by 0.28%. The pound surged by 78 pips, nearly reaching the 1.3001

Laurie Bailey 04:01 2025-03-28 UTC+2

USD/JPY Forecast for March 28, 2025

Yesterday, Donald Trump signed an executive order imposing a 25% tariff on all automobiles and auto parts imported into the U.S. The tariff on vehicles will take effect on April

Laurie Bailey 04:01 2025-03-28 UTC+2

Trading Signals for EUR/USD for March 27-29, 2025: buy above 1.0790 (21 SMA - 8/8 Murray)

If the euro continues its rebound and consolidates above 1.0790 in the coming hours, we could expect EUR/USD to continue rising. So, the instrument could reach +2/8 Murray at 1.0986

Dimitrios Zappas 13:55 2025-03-27 UTC+2

Trading Signals for GOLD (XAU/USD) for March 27-29, 2025: sell below $3,057 (double top - 7/8 Murray)

If gold fails to break above 3,057, it will be seen as a signal to sell with a target at 3,023. Moreover, we could expect it to reach

Dimitrios Zappas 13:54 2025-03-27 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.