# EURJPY Channel Breakdown (Feb 16, 2018) Source: https://www.tradersway.com/resources/market-info/eurjpy-channel-breakdown-feb-16-2018/ Language: en Updated: 2018-02-16 Description: Explore EURJPY Channel Breakdown (Feb 16, 2018). EURJPY had been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURJPY had been trading inside an ascending channel pattern and price has broken below support. This signals that a reversal from the uptrend is underway, although additional confirmation could still be needed from technical indicators. The 100 SMA is still above the longer-term 200 SMA on the daily time frame, which means that the path of least resistance is to the upside. This means that the rally is more likely to resume than to reverse. However, price has also broken below the 100 SMA dynamic support to indicate a pickup in selling pressure. Stochastic is indicating oversold conditions and looks ready to turn higher, which means that buyers might be ready to prop price up once more. This could lead to a pullback to the broken channel support before the selloff resumes. The yen was one of the top performing currencies lately as the Japanese currency is taking advantage of dollar weakness. Data from Japan also turned out stronger than expected as the industrial production figure was upgraded from 2.7% to 2.9%. There were no major reports out of the euro zone recently, although medium-tier figures have been mostly upbeat. ECB tightening expectations are in play but traders also seem wary of currency strength and its impact on inflation. ![EURJPY Channel Breakdown (Feb 16, 2018)] There are no major reports due from Japan and the euro zone for the remainder of the trading week, and with Chinese markets closed for Lunar New Year festivities, market liquidity is expected to be thin. Profit-taking could be a factor as well. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-channel-breakdown-feb-16-2018/#primary", "url": "https://www.tradersway.com/resources/market-info/eurjpy-channel-breakdown-feb-16-2018/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurjpy-channel-breakdown-feb-16-2018/", "headline": "EURJPY Channel Breakdown (Feb 16, 2018)", "inLanguage": "en", "datePublished": "2018-02-16T08:30:39+00:00", "dateModified": "2018-02-16T08:30:39+00:00", "articleSection": "Market Info", "description": "Explore EURJPY Channel Breakdown (Feb 16, 2018). EURJPY had been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-channel-breakdown-feb-16-2018/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURJPY Channel Breakdown (Feb 16, 2018)", "item": "https://www.tradersway.com/resources/market-info/eurjpy-channel-breakdown-feb-16-2018/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```