Euro / Japanese Yen
Long

The Correlation Between EURJPY and NASDAQ You Shouldn't Ignore

83
Currently keeping a close eye on EURJPY — price action has been bullish 📈, showing a strong upward push on the daily timeframe 🕒.

Right now, we’re seeing a bit of indecision 🤔, which is fairly typical for a Monday session as the market finds its footing.

🔍 I’m watching for continuation to the upside, as long as NASDAQ remains bullish. That said, NASDAQ is looking quite overextended 🧗, and a pullback could trigger a short-term retracement in the euro as well — these two tend to move in correlation 🔗, so keep a close watch on NAS100 for early clues.

If EURJPY consolidates sideways ⏸️, and we then get a clear break of market structure to the upside 🚀, I’ll be looking for a long setup on the retest and failure of the range floor — textbook continuation play 🎯.

As always, this is not financial advice — full breakdown in the video 🎥.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.