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18.01.2022 19:33

EUR/JPY Price Analysis: Outlook remains unclear

  • EUR/JPY resumes the downside and retests 130.50.
  • Upside remains limited by the 131.50/60 band so far.

EUR/JPY fades the initial move further north of the 131.00 mark and sparked a moderate pullback to the mid-130.00s soon afterwards on Tuesday.

Price action remains unconclusive around the cross for the time being, with gains capped by the so far YTD top at 131.60 (January 5) and the 130.00 neighbourhood offering some decent contention.

The inability of EUR/JPY to surpass the 131.50/60 band on a convincing fashion, ideally in the near term, should shift the bias towards the downside.

EUR/JPY daily chart

 


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00