# EURJPY Channel Pullback (Mar 15, 2017) Source: https://www.tradersway.com/resources/market-info/eurjpy-channel-pullback-mar-15-2017/ Language: en Updated: 2017-03-15 Description: Explore EURJPY Channel Pullback (Mar 15, 2017). EURJPY recently. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURJPY recently broke out of its descending channel pattern, signaling a reversal from the selloff. Price reached a high of 122.83 before showing signs of a pullback, and applying the Fib tool on the latest swing high and low shows that the 38.2% retracement level is closest to the broken resistance. If this holds as sppport, the pair could head back up to the swing high or higher. A larger pullback could last until the 50% Fib at the 120.50 minor psychological level or at the 120.00 major psychological mark. A break below these levels could put the pair back on a downtrend. The 100 SMA is still below the 200 SMA so the path of least resistance might still be to the downside. However, the gap between the moving averages is narrowing to show a pending upward crossover, which could draw more buyers to the game. Stochastic is already indicating oversold conditions, which means that selling pressure is exhausted and that buyers could regain control. The euro seems to be correcting from its post-ECB run, during which Governor Draghi’s remarks during the presser indicated that the central bank is no longer considering further easing. He said that there is no more urgency to increase stimulus as deflationary risks are lower. However, the shared currency is also reeling from political uncertainty as French election updates revived “Frexit” concerns. Le Pen has led in the polls against Macron and presidential favorite Fillon is currently under formal investigation for allegedly diverting public funds. ![EURJPY Channel Pullback (Mar 15, 2017)] Meanwhile, the Japanese yen is awaiting the BOJ interest rate decision this week and any dovish remarks could push the currency back down. On the other hand, a shift to a less dovish tone could also mean gains for the lower-yielding currency. Changes in bond yields after today’s FOMC statement could also push yen pairs around. *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-pullback-mar-15-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/eurjpy-channel-pullback-mar-15-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurjpy-channel-pullback-mar-15-2017/", "headline": "EURJPY Channel Pullback (Mar 15, 2017)", "inLanguage": "en", "datePublished": "2017-03-15T10:23:18+00:00", "dateModified": "2017-03-15T10:23:18+00:00", "articleSection": "Market Info", "description": "Explore EURJPY Channel Pullback (Mar 15, 2017). EURJPY recently. 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-pullback-mar-15-2017/#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 Pullback (Mar 15, 2017)", "item": "https://www.tradersway.com/resources/market-info/eurjpy-channel-pullback-mar-15-2017/" } ] } ] } ``` ```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" } } ] } ```