Japanese yen outperforms on Monday as market sentiment deteriorates. Euro declines across the board, even against commodity and EM currencies. The EUR/JPY held firm under 118.00 and dropped further, hitting at 117.30, the lowest level since April 6. Technical factors, a stronger yen and a slide of the euro weighed on the pair. The yen gained momentum on Monday as equity markets pulled back after last week’s rally. The USD/JPY is losing more than 80 pips, favoring the downside in EUR/JPY. Among majors, the euro is the worst performer. EUR/USD reached levels under 1.0900 before bouncing modestly. Technical outlook The EUR/JPY broke a bullish short-term trendline. Technical indicators point to the downside. The next strong support could be seen around 117.20 and below at 116.70. The 118.00 zone is now the immediate resistance. Above, the critical level for EUR/JPY is 118.70: a consolidation above would clear the way to more gains. 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 Canada: Fiscal policy has the most scope to provide stimulus during the recovery – CIBC FX Street 2 years Japanese yen outperforms on Monday as market sentiment deteriorates. Euro declines across the board, even against commodity and EM currencies. The EUR/JPY held firm under 118.00 and dropped further, hitting at 117.30, the lowest level since April 6. Technical factors, a stronger yen and a slide of the euro weighed on the pair. The yen gained momentum on Monday as equity markets pulled back after last week’s rally. The USD/JPY is losing more than 80 pips, favoring the downside in EUR/JPY. Among majors, the euro is the worst performer. EUR/USD reached levels under 1.0900 before bouncing modestly. Technical outlook The EUR/JPY… 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.
