Posts Tagged “EUR/JPY”
Although the single currency has fallen after meeting renewed selling interest at 118.75, loss of near term downward momentum would prevent sharp fall below 115.00 (61.8% Fibonacci retracement of 110.49-122.29) and risk has increased for a rebound. View full post on Forex Trading Ideas
EUR/JPY’s break of 116.55 indicates that fall from 122.27 has resumed and turns intraday bias back to the downside. Further fall should be seen to retest 110.69 low first. On the upside, above 118.69 minor resistance will indicate that fall from 122.27 has completed and flip intraday bias back to the upside. Further break of [...]
Despite yesterday’s fall to 116.57, as euro has recovered from there, suggesting consolidation would be seen and retracement to 119.00 cannot be ruled out, however, reckon 120.00 would cap upside and bring another decline. Below said support would extend weakness to indicated downside target at 116.39 (50% Fibonacci retracement of 110.49 to 122.29) but break [...]