EUR/JPY: 123.70 awaits

EUR/JPY: 123.70 awaits

2020-07-29 • Updated

EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern. A return above the 50-period MA will allow the price to recover to 123.50 and 123.70 (resistance line going through the recent highs). Sell trades will become reasoned only below 123.00 (targeting 122.50).

Trade idea for EUR/JPY

BUY 123.30; TP 123.70; SL 123.15

EURJPYH4.png

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