EDGE Chart of the Day – EURJPY (December 19th, 2023)

<div><p><div><h2 itemprop="headline">EURJPY should turn lower near term. </h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Following the “inaction” of the BOJ overnight, the EURJPY and other XXXJPY pairs ramped higher. Many pairs hit resistance levels, including the EURJPY. The EURJPY completed and equal leg move to the 158.50’s and with the underside of the broken channel being tested and the 50% retracement of the drop from 2023 highs within a stone’s throw, the risk/reward is for shorts at current levels with a potential move back to the 200dma at least (not pictured, but at 154.45) support.</p>
<p><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-11029" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56.png" alt="" width="1538" height="827" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56.png 1538w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56-400×215.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56-800×430.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56-768×413.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56-1536×826.png 1536w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56-1500×807.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56-705×379.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/EURJPY_2023-12-19_09-20-56-450×242.png 450w" sizes="(max-width: 1538px) 100vw, 1538px" /></p>
<p>Blake Morrow</p>
<p>Our EDGE <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Blake Morrow</p>
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<p>The post <a href="https://www.forexanalytix.com/blog/chart-of-the-day-dec-19th-2023/">EDGE Chart of the Day – EURJPY (December 19th, 2023)</a> appeared first on <a href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>