[Fundamental x Technical Special Feature ⑧] Euro/Yen: Chart Analysis
【Feature: Fundamental × Technical】
Find the optimal approach to reading the market!
This time we approach the market from both fundamental and technical perspectives. We analyze major countries and major currency pairs from multiple viewpoints and information, and we look for hints to find the best approach to facing the market. In addition, we will pick up notable individual stocks, cryptocurrencies, and commodities to give a comprehensive wrap-up of the 2020 market.
For fundamentals, we will have Yenzo analyze stock indices and forex outlooks, and for technicals, we will have Yasushi Yamanaka analyze long-term views of major currency pairs, introducing analyses from forex professionals!
・② Dollar: United States’ situation
・④ Pound: United Kingdom’s situation
・⑤ Australian Dollar: Australia’s situation
・⑧ EUR/JPY: Chart analysis ←This article ends here
・(11) AUD/USD: Chart analysis
・(12) Market beyond currency pairs (NASDAQ & GAFA, cryptocurrencies & commodities)
※This article is a republication/edit of FX攻略.com's March 2021 issue. Please note that the market information written in the本文 differs from the current market.
YEN蔵 Profile
A forex dealer for over 20 years at U.S.-based Citibank and U.K.-based Standard Chartered Bank and other foreign banks. Currently a top professional trader handling forex, the Nikkei Stock Average, Nikkei options, and individual stocks. President & CEO of ADVANCE Co., Ltd., which mainly distributes investment information.
Newsletter:YEN蔵 Real Top Trading
Blog:YEN蔵’s FX Investment Techniques - Investing in the world with dollar, yen, euro, pound, and AUD
Twitter:https://twitter.com/YENZOU
Yamanaka Yasushi Profile
Director at Ascendant. Joined Bank of America in 1982, became Vice President in 1989, Proprietary Manager in 1993. In 1999, Deputy Manager of FX Funds at Nikko Citi Trust Bank. In 2002, founded Ascendant.
Official Blog:FX information distribution site provided by Ascendant/Yamanaka
Twitter：https://twitter.com/yasujiy
Use other dollar crosses as reference for direction as well
From a long-term perspective, EUR/JPY shows a pattern of lower highs and higher lows, suggesting it is nearing the end of a range. When there is a strong directional move in USD/JPY or EUR/USD, be sure to check EUR/JPY as well.
Looking at 2020, the first half was a downtrend and the second half an uptrend, with a larger price range than USD/JPY. Dips and pullbacks tend to deepen, so if the current trend continues, aim to trade with the trend on higher timeframes and not against the direction. Also, in the latter half of last year, resistance-turned-support levels at around 127 yen were common, so be mindful of the major support and resistance lines.
