EUR/JPY loses upside momentum, back around 121.00. EUR-selling behind the correction lower in the cross. Focus remains on Brexit, US-China trade talks. The now softer stance in the European currency is prompting EUR/JPY to abandon the area of recent peaks in the mid-121.00s. EUR/JPY focused on risk trends The cross met important resistance in the mid-121.00s on Monday, or new 3-month tops, area coincident with the late July peaks. Renewed uncertainty stemming from the Brexit process, particularly since the Parliament’s vote on Saturday has been weighing on the broad risk appetite trends and lent some extra legs to the Japanese safe haven and the buck. In addition, cautiousness among investors has started to swell in light of the upcoming ECB event (Thursday) – the last meeting under President Draghi – and amidst the prevailing consensus that the Council could deliver a dovish message. No news on the US-China trade front other than the usual suspects leaves yields and thus the Japanese JPY on a consolidative/bearish view. EUR/JPY relevant levels At the moment the cross is losing 0.10% at 120.97 and a breach of 119.78 (100-day SMA) would expose 118.43 (55-day SMA) and finally 117.07 (monthly low Oct. 3/7). On the other hand, the next up barrier aligns at 121.47 (monthly high Oct.21) seconded by 122.23 (200-day SMA) and then 123.35 (monthly high Jul.1). 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 US: Existing Home Sales in focus – Rabobank FX Street 3 years EUR/JPY loses upside momentum, back around 121.00. EUR-selling behind the correction lower in the cross. Focus remains on Brexit, US-China trade talks. The now softer stance in the European currency is prompting EUR/JPY to abandon the area of recent peaks in the mid-121.00s. EUR/JPY focused on risk trends The cross met important resistance in the mid-121.00s on Monday, or new 3-month tops, area coincident with the late July peaks. Renewed uncertainty stemming from the Brexit process, particularly since the Parliament's vote on Saturday has been weighing on the broad risk appetite trends and lent some extra legs to the Japanese… 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.
