EUR/JPY breaches trendline falling from January 2018 highs. A breakout, if confirmed on weekly closing basis, would expose highs seen in May. EUR/JPY is trading at 121.77 at press time, representing a 0.20% gain on the day and a 0.71% rise on a week-to-date basis. The weekly chart shows the pair has breached the trendline connecting January 2018 and September 2018 highs. As of writing, the former hurdle-turned-support is located at 121.40. An upside break of the descending trendline would be confirmed if the pair ends above 121.40 on Friday. That would imply an end of the 2.5-year-long bearish trend from 137.50 and put the bulls back into the driver’s seat. The breakout, if confirmed, would shift the focus to resistance at 124.43 (May high). However, if the pair fails to keep gains above the trendline, sellers will likely feel emboldened and may push the JPY cross lower to 119.31 (June low). Weekly chart Trend: Cautiously bullish Technical levels 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 Fed creates monster debt problem FX Street 3 years EUR/JPY breaches trendline falling from January 2018 highs. A breakout, if confirmed on weekly closing basis, would expose highs seen in May. EUR/JPY is trading at 121.77 at press time, representing a 0.20% gain on the day and a 0.71% rise on a week-to-date basis. The weekly chart shows the pair has breached the trendline connecting January 2018 and September 2018 highs. As of writing, the former hurdle-turned-support is located at 121.40. An upside break of the descending trendline would be confirmed if the pair ends above 121.40 on Friday. That would imply an end of the 2.5-year-long bearish trend… 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.
