# EURJPY Long-Term Downtrend? (Apr 03, 2017) Source: https://www.tradersway.com/resources/market-info/eurjpy-long-term-downtrend-apr-03-2017/ Language: en Updated: 2017-04-03 Description: Explore EURJPY Long-Term Downtrend? (Apr 03, 2017). EURJPY failed. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURJPY failed in its last few attempts to break past the 123.00 area, creating a double top formation on its 4-hour chart. Price has yet to break below the neckline at the 118.00 major psychological mark before confirming the longer-term drop. If that happens, price could fall by around 500 pips or the same height as the chart formation. The 100 SMA is above the longer-term 200 SMA on this chart so the path of least resistance is still to the upside. However, the moving averages could be oscillating, which suggests that range-bound conditions might persist and support at 118.00 could hold. Stochastic is dipping into the oversold area, which signals that sellers are getting tired and might let buyers take over. In that case, a bounce back to the range resistance at 123.00 could take place or at least until the middle around 120.50 to 121.00. Economic data from the euro zone turned out mostly weaker than expected last week, with headline flash CPI down from 2.0% to 1.5% versus the 1.8% forecast and the core CPI down from 0.9% to 0.7%. German retail sales and unemployment change data turned out stronger than expected but data from France fell short of consensus. As for the yen, Japanese reports also turned out mixed but the lower-yielding currency is taking advantage of weaker US bond yields and the pickup in risk aversion. Household spending is down 3.8% year-over-year versus the projected 1.6% drop while preliminary industrial production turned out stronger than expected. ![EURJPY Long-Term Downtrend? (Apr 03, 2017)] Earlier today, Japan’s Tankan survey printed mixed results as the manufacturing component improved from 10 to 12 versus the estimated reading of 14 while the non-manufacturing component rose from 18 to 20, outpacing the consensus at 19. *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-long-term-downtrend-apr-03-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/eurjpy-long-term-downtrend-apr-03-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurjpy-long-term-downtrend-apr-03-2017/", "headline": "EURJPY Long-Term Downtrend? (Apr 03, 2017)", "inLanguage": "en", "datePublished": "2017-04-03T08:11:31+00:00", "dateModified": "2017-04-03T08:11:31+00:00", "articleSection": "Market Info", "description": "Explore EURJPY Long-Term Downtrend? (Apr 03, 2017). EURJPY failed. 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-long-term-downtrend-apr-03-2017/#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 Long-Term Downtrend? (Apr 03, 2017)", "item": "https://www.tradersway.com/resources/market-info/eurjpy-long-term-downtrend-apr-03-2017/" } ] } ] } ``` ```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" } } ] } ```