Thursday, October 15, 2026

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FxWirePro: EUR/JPY edges higher from fresh multi-year lows at 125.38, bias lower

EUR/JPY hit multi-year lows at 125.38, as yen in demand on renewed riks-off. The pair has been trading a falling channel and finds strong support at 125.20 which is channel base. Price action is well below the cloud and …

By Jay L. Zagorsky
1 min read
FxWirePro: EUR/JPY edges higher from fresh multi-year lows at 125.38, bias lower
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EUR/JPY hit multi-year lows at 125.38, as yen in demand on renewed riks-off.

  • The pair has been trading a falling channel and finds strong support at 125.20 which is channel base.
     
  • Price action is well below the cloud and major moving averages are trending lower, but Stochs and RSI are at oversold levels so demand some caution.
     
  • Doji formation evidenced in the Asian session, if pair holds channel base support, gains upto 127.40 and then 128 likely.
     
  • On the other side, breaks below channel base at 125.20 could drag the pair to 124.95 which is next support ahead of 123.42 (Feb 8th 2013 lows).

 

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By FxWirePro Team