EUR/JPY closed at 135.81 and 9 pips below its next vital point at 135.89. Note EUR/USD closed at 1.0975 and 4 pips below my reported line at 1.0979. I reiterate 28 EUR currency pairs, interest rates and German Yields are all bunched together and causing a tight tight range market. Any price movements seen occur at the most shortest end of the curve. EUR currency pairs are lost and uncertain as to their next direction. EUR/JPY is no different as its price moves over months has wandered in tight tight ranges. It Correlates to EUR/USD 44% and USD/JPY 0.08%. As JPY/USD the correlation becomes 0.19%. Correlations in EUR/JPY V EUR/USD and USD/JPY hasn’t varied in 2 months and running. EUR/JPY desperately needs a break below a significant price point to see not only better price moves, trends and direction but it must again fully marry to its true position as EUR/USD. That price break isn’t seen until 132.50’s crosses below.
EUR/JPY. Current ranges are located between 136.18 — 135.57 and 135.64. A break higher at 136.18 targets next ranges at 137.43 and 137.24. But current forward line is moving down from its present position at 137.45. This means lower 137’s will be a price struggle to break higher for EUR/JPY. Below: A break of 135.64 and 135.57 targets next range points below at 134.69, 134.53 and 134.34. Then we begin focus on 133.17.
Shortest term ranges to cover Asia to American morning are found between 135.87 and 135.88 — 135.21 and 135.20. A break of 135.20 and 21 must be seen in order for EUR/JPY to gain downside speed to 134.69. 135.20 and 135.21 is also the point to look for a possible bounce. EUR/JPY price is overbought and sell point is located at 136.56 –136.68. In case of a market fluke, Next sell points found at 137.24 and 137.33. The curve is downsloping. Next points above 135.87, 135.88, 135.89, 135.97, 136.06, 136.22, 136.38, 136.53, 136.68, 137.24, 137.33.
I reiterate most respectfully my points, targets, ranges are carefully calculated and perfectly exact. A more bolder yet no less respectful statement is my points, ranges, targets is not only what the central banks watch but they trade on these specific points. Many thank you’s Tak, US and Xie Xie, nandn, terima kasih
More EUR pairs and GBP pairs on the way.
Brian Twomey, Inside the Currency Market, btwomey.com