EUR/JPY has confirmed a top beneath the twin 124.44 lows with support seen next at the 50% retracement at 123.19 and then more importantly at the 38.2% retracement of the entire rally from May at 122.27/23, per Credit Suisse. See – EUR/JPY breaks down from a top pattern targeting January high at 122.88 – Commerzbank Key quotes “EUR/JPY has brushed aside key support from the twin 124.44 lows of late August and earlier this month to see the warned of top established, with support from the 55-day average and 38.2% retracement of the rally from late June also removed with ease. This should confirm an important turn lower has taken place with support seen next at the 50% retracement at 123.19, ahead of price support at 122.84 and then more importantly at 122.27/23 – the 38.2% retracement of the entire rally from May and 61.8% retracement of the rally from late June. With the ‘“measured top objective’ seen not far below here at 121.80, we would look for a fresh floor here.” “Resistance is seen at 123.83 initially then 124.10, with the ‘neckline’ to the top at 124.44 now ideally capping. A recovery back above 125.02/08 today though is needed to warn of a false break lower.” 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 World Bank Chief Economist Reinhart: A full global economic recovery may take five years FX Street 2 years EUR/JPY has confirmed a top beneath the twin 124.44 lows with support seen next at the 50% retracement at 123.19 and then more importantly at the 38.2% retracement of the entire rally from May at 122.27/23, per Credit Suisse. See – EUR/JPY breaks down from a top pattern targeting January high at 122.88 – Commerzbank Key quotes “EUR/JPY has brushed aside key support from the twin 124.44 lows of late August and earlier this month to see the warned of top established, with support from the 55-day average and 38.2% retracement of the rally from late June also removed with ease. This… 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.