Friday, October 16, 2026

Technicals

Add as a preferred source on Google

FxWirePro: EUR/JPY capped below 10-day MA, trades an extremely narrow range

The single currency remains under pressure ahead of German Ifo business climate data. EUR/JPY is extending narrow rangebound trade within a symmetric triangle pattern. 114.15 and 112.80 are pivotal points, breakout on ei…

By FxWirePro Team
1 min read
FxWirePro: EUR/JPY capped below 10-day MA, trades an extremely narrow range
Image from the original EconoTimes article

Read the original article

  • The single currency remains under pressure ahead of German Ifo business climate data.
     
  • EUR/JPY is extending narrow rangebound trade within a symmetric triangle pattern.
     
  • 114.15 and 112.80 are pivotal points, breakout on either side could provide clear direction.
     
  • Longer term trend remains lower, price action is below major moving averages and RSI remains below 50 level.
     
  • Market focus now on the German Ifo business climate data, expectations are for an improvement in August. Miss on expectations could weigh on the pair. 
     
  • We would recommend going short on break below 112.80, target 111 levels. 
     
  • Bearish invalidation on close above 113.50, test of 114.15 then likely. Violation there could see gains upto 114.66 (50-DMA) and then 116 levels.
     

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team