The EUR/JPY pair is on the rounds near 125.80 during early Monday. While failure to provide sustained downturn under 100-day simple moving average (SMA) triggered the quote’s pullback, 50% Fibonacci retracement of October 2018 to January 2019 seems acting as immediate resistance for the pair. In a case gradually recovery 14-day relative strength index (RSI) fuels the pair beyond 125.90 adjacent upside barrier, 126.20 and a downward sloping trend-line from March 01 at 126.80 can please the buyers. However, Bulls ability to cross 126.80 on a daily closing basis could escalate the recovery towards 127.50/60 resistance-confluence comprising 200-day SMA and 61.8% Fibonacci retracement level. Meanwhile, a downside break of 125.70 figure including 100-day SMA highlights the importance of an ascending trend-line that connects January low to March low at 125.00. If at all the JPY strength drags the pair under 125.00, 124.70 and 38.2% Fibonacci retracement near 124.20 might flash on the chart. EUR/JPY daily chart Trend: Sideways 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 GBP/JPY Technical Analysis: Probing 50-hour MA hurdle after falling channel breakout FX Street 4 years The EUR/JPY pair is on the rounds near 125.80 during early Monday. While failure to provide sustained downturn under 100-day simple moving average (SMA) triggered the quote's pullback, 50% Fibonacci retracement of October 2018 to January 2019 seems acting as immediate resistance for the pair. In a case gradually recovery 14-day relative strength index (RSI) fuels the pair beyond 125.90 adjacent upside barrier, 126.20 and a downward sloping trend-line from March 01 at 126.80 can please the buyers. However, Bulls ability to cross 126.80 on a daily closing basis could escalate the recovery towards 127.50/60 resistance-confluence comprising 200-day SMA and… 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.
