EUR/JPY is offering a mixed outlook without any confirmation of a directional bias one way of the other. However, it is a cross that is worth monitoring considering the weakness in the greenback and the euro picking up a strong bid. The US dollar has fallen to a 27-month low leaving EUR/USD RSI into the overbought territory as confirmation that the momentum is with the bulls. Meanwhile, the daily chart is the most compelling as the price pulls back towards support. Coupled with the 4HR time frame and a potential reversal pattern taking shape bulls stand on guard. Monthly chart The monthly chart attracts sellers towards old resistance structure. Daily chart However, there are bullish prospects on the daily chart while price holds above daily support structure. On a break to the downside, there could be an evolution of a bearish head and shoulders top formation in the making. 4HR chart On the other hand, a reversal head and shoulders pattern could be in the making here which would help to solidify the bullish prospects. 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 S&P 500 Futures ignore geopolitical challenges at Hong Kong, US amid broad risk-on mood FX Street 2 years EUR/JPY is offering a mixed outlook without any confirmation of a directional bias one way of the other. However, it is a cross that is worth monitoring considering the weakness in the greenback and the euro picking up a strong bid. The US dollar has fallen to a 27-month low leaving EUR/USD RSI into the overbought territory as confirmation that the momentum is with the bulls. Meanwhile, the daily chart is the most compelling as the price pulls back towards support. Coupled with the 4HR time frame and a potential reversal pattern taking shape bulls stand on guard. Monthly chart The monthly chart… 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.
