[Feature: Target Currency Pairs] Euro-Yen and Euro-Dollar: Will the long-term formed trendlines continue or reverse to create a major market move? — Masao Kandou

Masao Shindo Profile

Active as a strategist and technical analyst under Kojiro instructor Kojiro Takezo’s office, Takezo Kojiro Office Co., Ltd. He posts various chart analysis ideas on TradingView.

Twitter：https://twitter.com/masao_shindo

How Masao Shindo views current EUR/JPY and EUR/USD!

◦ The impact of Brexit is significant, but movement has stagnated

With the UK leaving the EU, one of the main pillars has been removed, causing a large impact, and the effects of that European political turmoil are now reflected strongly in the euro’s movements. However, it has begun to "learned to be enough" and the euro’s movement has become stagnant at present.

◦ Overall, the euro is in a long-term formation phase

Looking long-term on monthly and weekly charts, EUR/JPY is forming a triangle, and EUR/USD continues within a large downtrend channel. The euro being stuck suggests that the euro and the yen are in a similar power balance. Meanwhile, the euro’s weakness indicates that the overall trend for the euro remains a long-term bearish phase.