EUR/JPY testing a key pivotal zone

EUR/JPY testing a key pivotal zone

EUR/JPY has been finding support around the key Fibonacci demand area of 50% and 61.8%, established between the levels of 129.73 and 129.53. Above that zone, the pair could gain momentum in order to look for bullish targets. If that happens, then we might expect a higher continuation towards -23.6% Fibonacci level at 131.00 approximately.

To the downside, the scenario mentioned above could get invalidated when then pair does a break below the Fibonacci retracement level of 65% at 129.47 and the focus should shift towards 129.23 in a first degree. RSI indicator remains in the neutral territory, calling for more sideways.



GBP/USD: bullish "Flag"

The pair is going to continue moving up in the direction of another resistance at 1.4144 - 1.4277...



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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