EUR/JPY broke key support level 131.50

EUR/JPY broke key support level 131.50

  • EUR/JPY broke key support level 131.50
  • Next sell target - 130.00

EUR/JPY recently broke through the key support level 131.50 (which has been reversing the price from the end of September, as can be seen from the daily EUR/JPY chart below). EUR/JPY is expected to fall further toward the next sell target at the next round support level 130.00. Sell stop-loss can be placed above the aforementioned price level 131.50 (acting as resistance after it was broken).



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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