⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

EUR/JPY Bouncing Above The Support – More Sell-off in Store?

The safe-haven currency JPY plunged broadly for an obvious reason of concern among traders. Yes, I’m speaking about an uptick in geopolitical anxieties from the US-China trade war to Brexit. Anyway, we may have a trade opportunity in the EUR/JPY…

EUR/JPY – Fundamental Review

The Bank of Japan tried to weaken the JPY last week when it kept its policy steady, leaving the interest rate at -0.10 %. But the recent uncertainties over China and the US trade war led the Yen up to its strongest level against the dollar in nine days.

EUR/JPY – EMA Bullish Crossover & Triple Top

On the 2 hour chart, the EUR/JPY continues to trade bearish above triple bottom support area of 128.500. Zooming out on the 2-hour chart, you can see the same level was working as a resistance back in July.

The EUR/JPY has come down to the same resistance level of 128.500. It will be nice to see if EUR/JPY manages to violate this support level or not. Because if it breaks downward, the next target is likely to be 127.350.

On the other side, the Japanese cross can target 129.250 and 129.650 only if it manages to stay above 128.500. Coming up next is the PPI data from the US economy. It might be interesting to watch it to catch any surprises.

Good luck traders and stay tuned!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles