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




Euro May Start a Rally
Euro May Start a Rally

On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?

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