Home EUR/JPY Technical Analysis: Potential rebound near term as the cross enters ‘oversold’ territory

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EUR/JPY Technical Analysis: Potential rebound near term as the cross enters ‘oversold’ territory

FX Street

Published date: 5 Aug. 2019 | 10:17

EUR/JPY clinched fresh yearly lows in sub-118.00 levels on the back of increasing demand for the safe haven JPY.
If the selling impetus gathers further traction, the area of 2017 low at 114.85 (April 17) is expected to emerge on the horizon.
However, a potential rebound in the near term should not be ruled out, as the cross stays well oversold around the 20 level when gauged by the daily RSI (14).

EUR/JPY daily chart

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