EUR/JPY: close to reach a key support area

EUR/JPY: close to reach a key support area

EUR/JPY has been taking a rest in the bullish bias started from the lows of March and the resistance level of 133.49 is helping to cap further gains. Currently, the pair is on its way to reach the Fibonacci zone of 50% at 131.21. If a rebound happens over there, then we can expect a rally to test the Fibonacci area of -23.6% at 134.56. To the downside, if the 130.53 level gives up, doors will open to test the 128.94 area.

RSI indicator remains steady around the oversold territory.



Latest news

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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