EUR/JPY: the trend is bearish

EUR/JPY: the trend is bearish

Trade idea

SELL 120.70; TP 120.10; SL 120.90

Slowly but surely, EUR/JPY is creeping down. This week, the currency pair broke the support line connecting June lows and thus resumed the downtrend which has been in place since the start of 2018. The pair is moving towards the 61.8% Fibo retracement of the 2016-2018 advance just above 120.00. Daily MAs are in the negative order, and on W1 200- and 50-week MAs have just formed a “dead cross”. As a result, those who are patient enough can trade this downtrend. 

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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