38.2% Fibonacci retracement of a month-old decline, overbought RSI question the EUR/JPY pair’s further upside. Latest low close to 120.7250 becomes immediate support to watch. EUR/JPY struggles around 38.2% Fibonacci retracement of June-end to July bottom downpour as it takes the bids to 121.33 during early Tuesday. Not only the Fibonacci retracement level but overbought conditions of 14-bar relative strength index (RSI) also highlights buyers’ exhaustion despite breaking an eleven-day long descending trend-line on Monday. As a result, odds are high for the pair’s pullback to 121.00 and then to a recent low surrounding 120.7250. However, July 24 high near 120.58 and the monthly low surrounding 120.00 could challenge bears afterward. Alternatively, 200-bar moving average on the 4-hour chart (4H 200MA) at 121.63 becomes the next target for buyers whereas 122.00 and July 10 high near 122.3350 may lure them during further advances. EUR/JPY 4-hour chart Trend: Pullback expected 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 Forex today: GBP/USD takes a hammering on hard Brexit hysteria FX Street 4 years 38.2% Fibonacci retracement of a month-old decline, overbought RSI question the EUR/JPY pair's further upside. Latest low close to 120.7250 becomes immediate support to watch. EUR/JPY struggles around 38.2% Fibonacci retracement of June-end to July bottom downpour as it takes the bids to 121.33 during early Tuesday. Not only the Fibonacci retracement level but overbought conditions of 14-bar relative strength index (RSI) also highlights buyers' exhaustion despite breaking an eleven-day long descending trend-line on Monday. As a result, odds are high for the pair's pullback to 121.00 and then to a recent low surrounding 120.7250. However, July 24 high near… 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.
