Asian, US, European stock markets since the beginning of 2019 to a positive outlook rally was carried out as a break in May. Demand for reliable ports due to sales in global stock markets is noteworthy. Such as USDJPY and EURJPY assets continue to display negative trend with strong Yen pricing behavior.
EURJPY parity, pausing to rally to 122.47 as the 126.80 level has had the idea began to react domestic trends agenda. Although the idea of a response to the parity, which is close to 123.31, is on the agenda with this idea, it should not be ignored that the main trend is negative.
Main Scenario: EURJPY parity of top spot if the downward trend continued to remain under the 123.96 barrier, since April 17, 2019 may want to continue from where it left a negative trend that remains in effect. With this in mind, the trend rally can be seen towards 123,72 and 122,47 support points, especially 123. Permanent movements, especially at the bottom of the bottom bottom 122,47, may provide a further strengthening of the negative outlook. Otherwise the trend of domestic responses can occupy the agenda. In this process, the possible response levels before 123,96 barrier were recorded as 123,30 and 123,67.
Alternative Scenario: To end the negative trend view for the EURJPY parity, there is a need to act on a permanent barrier 123.96.. In the case of the trend change, a positive appearance can be observed towards the 124,62 and 125,20 barriers, particularly 124,25, and if such a change occurs, the peaks towards the peak level 126,80 resistance point on April 17, 2019 may be accelerated.
Pivot: 123,00 – 122,72 – 122,47
Pivot: 123,31 – 123,67 – 123,96