Failures to extend Monday’s recovery beyond 126.10 isn’t speaking loud of the EUR/JPY pair’s weakness as not only 50-day and 100-day simple moving averages (SMA) but a four-week-old ascending trend-line also restricts the quote’s downside around 125.70/60 during early Tuesday. As a result, chances of witnessing another uptick of 126.10 can’t be denied, a break of which may escalate the pair towards a descending trend-line stretched since March-start, at 126.75. In a case buyers manage to overcome 126.75 on a daily closing basis, the 127.50/55 area including 200-day SMA and recent high gains market attention as it holds the door for the pair’s rally to 61.8% Fibonacci expansion of January to April moves, near 129.10. Meanwhile, a downside break of 125.60 can recall 124.70 whereas an upward sloping trend-line since January 04 can question the bears’ strength around 124.00 – 123.90. If at all prices slip beneath 123.90, 125.60 and 122.50 could become sellers’ favorites. EUR/JPY daily chart Trend: Positive 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 ECB’s Coeure: Negative interest rates are not the biggest problem FX Street 4 years Failures to extend Monday's recovery beyond 126.10 isn't speaking loud of the EUR/JPY pair's weakness as not only 50-day and 100-day simple moving averages (SMA) but a four-week-old ascending trend-line also restricts the quote's downside around 125.70/60 during early Tuesday. As a result, chances of witnessing another uptick of 126.10 can't be denied, a break of which may escalate the pair towards a descending trend-line stretched since March-start, at 126.75. In a case buyers manage to overcome 126.75 on a daily closing basis, the 127.50/55 area including 200-day SMA and recent high gains market attention as it holds the door… 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.
