EUR/JPY: Mildly bid in Asia after back-to-back doji candles

  • Back-to-back doji candles on EUR/JPY’s daily chart show seller exhaustion.
  • A big move on the higher side, however, may remain elusive, courtesy of trade tensions.

EUR/JPY is attempting gains this Friday morning in Asia amid signs of seller exhaustion on technical charts.

The currency pair is currently trading at 122.86, representing 0.10% gains on the day, having hit a high of 122.97 earlier today.

The minor gains come after back-to-back doji candles created in the previous two trading days. A doji is widely considered a sign of indecision in the marketplace.

In EUR/JPY’s case, however, that candle represents seller exhaustion. After all, it has appeared after a sell-off from 126.68 to 122.00.

The pair, however, may have a tough time capitalizing on bearish exhaustion if trade tensions keep risk assets under pressure. As of writing, the futures on the S&P 500 are lacking a clear direction. The index gained 25 points or 0.89% on Thursday.

The bid tone around the EUR may strengthen in Europe if Eurozone’s final consumer price inflation for April prints above the preliminary estimate of 0.7% month-on-month growth.

Pivot points 

    1. R3 123.4
    2. R2 123.19
    3. R1 122.97
  1. PP 122.76
    1. S1 122.54
    2. S2 122.33
    3. S3 122.11


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Stable amid trade calm and German stimulus hopes

EUR/USD is trading around 1.1100, marginally higher. President Trump expressed optimism about reaching a trade deal with China while Germany's Scholz opened the door to stimulus. EZ Core CPI is confirmed at 0.9%.


GBP/USD steady below 1.2150 after Yellowhammer leak, as Corbyn calls for no'confidence

GBP/USD is trading below 1.2150 amid reports of food shortages in case of a hard Brexit, project Yellowhammer. Opposition leader Corbyn calls for a no-confidence motion against the government 


USD/JPY bounces off 106.25, focus on Fed minutes, Jackson Hole

USD/JPY bounces off the key support at 106.25 and heads back towards the 106.50 level, in response to downbeat Japanese trade data, risk-on action in the Asian equities and higher Treasury yields.


Gold: Drops to multi-day lows, back below $1500 handle

Meanwhile, technical indicators have been gaining negative traction on hourly charts and support prospects for an extension of the corrective slide back towards testing last week's swing lows.

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bullish levels to watch after Binance announces Venus vs. Facebook's Libra

Cryptocurrencies have been advancing once again, with Bitcoin topping $10,500, Ethereum clawing its way back above $200, and Ripple extending its gains.

Read more