EURJPY Technical Analysis – Daily Doji/Hammer Around 105.00
- EURJPY has printed a daily timeframe Doji around the 105.00 level. This candle also resembles a hammer/pinbar. This comes after a break below price structure support and 105.00 was seen yesterday – potentially trapping fresh EURJPY shorts in the process.
- Any move higher would need to contend with the 107.00 area resistance if todays high is taken out at 106.30 in the first instance.
- A move below the 104.50 area would take out the Doji low. Prior to this any move under the low of today at 105.26 opens up potential for another attempt to break through the 105.00 level.
- Current days range is 103 pips which is 80% of the ADR over 60 days. Price is currently trading at a .25% gain on the day.
- EURJPY volatility has increased over the past 3 months. The last 10 days has likewise seen an increase in volatility as the move lower from 111.00 area highs experienced increased momentum.
EURJPY Daily Chart