EUR/JPY is trading 0.44% higher on Monday as the euro is one of the top performers on the day. The price has formed a rising wedge formation on the 4-hour chart. EUR/JPY 4-hour chart The euro is the top-performing currency in the G6 on Monday as risk sentiment improves and the dollar weakens. The pair has been grinding higher all session but over the last couple of hours and especially in the US session the price has dropped back. The price has converged into a rising wedge formation and a break of the chart pattern could help determine the future direction of the pair. The price stopped at the key resistance zone of 1.22 as it has done twice on the chart already. The indicators are showing a mixed picture at the moment. The Relative Strength Index is currently sloping lower and pulling away from the overbought zone. While the MACD is still in the green with the signal lines under the mid-point. The data in the US has been encouraging as the ISM non-manufacturing print exceeded analyst expectations. Later in the week, the market will get the latest initial jobless claims and updates about the COVID-19 pandemic if the news continues to improve the pair could break to the upside. Additional 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 Wall Street Close: US stocks surge and Nasdaq powers to record high FX Street 3 years EUR/JPY is trading 0.44% higher on Monday as the euro is one of the top performers on the day. The price has formed a rising wedge formation on the 4-hour chart. EUR/JPY 4-hour chart The euro is the top-performing currency in the G6 on Monday as risk sentiment improves and the dollar weakens. The pair has been grinding higher all session but over the last couple of hours and especially in the US session the price has dropped back. The price has converged into a rising wedge formation and a break of the chart pattern could help determine the future… 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.
