EUR/JPY has been unable to hold its move to new highs and below 129.70/52 would rekindle thoughts of a potential topping process, analysts at Credit Suisse appraise. See: EUR/JPY’s spike higher looks exhaustive, attention reverts to 129.40 – Commerzbank The aggressive rejection of new highs rekindles thoughts of a topping process “With daily RSI momentum continuing to fall steadily the uptrend continues to lose momentum and thoughts of a potential topping process have been rekindled.” “Key near-term support remains seen at 129.70/52, below which can add further weight to this view for a fall back to the 55-day average at 129.09. A close below here would then be seen as the trigger for a test of more important price and ‘neckline’ support at 128.43/29, below which would in our view see an important top established.” “Resistance is seen at 130.19 initially, with a break back above 130.74 needed to reassert an upward bias for strength back to 130.98/131.00 en route to the 61.8% retracement of the entire 2018/2020 bear trend at 132.55.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Palladium to run out of steam ahead all-time highs at 2878 – Commerzbank FX Street 2 years EUR/JPY has been unable to hold its move to new highs and below 129.70/52 would rekindle thoughts of a potential topping process, analysts at Credit Suisse appraise. See: EUR/JPY's spike higher looks exhaustive, attention reverts to 129.40 - Commerzbank The aggressive rejection of new highs rekindles thoughts of a topping process "With daily RSI momentum continuing to fall steadily the uptrend continues to lose momentum and thoughts of a potential topping process have been rekindled." "Key near-term support remains seen at 129.70/52, below which can add further weight to this view for a fall back to the 55-day average at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
