Even after reversing back from 123.60, EUR/JPY is still left to clear 124.15/20 resistance-confluence as it trades near 124.00 on early Monday. 38.2% Fibonacci retracement of January to March upside and an upward sloping trend-line connecting lows since January 04 highlights the importance of 124.15/20 area. Unless the quote rallies past-124.20, it can’t avoid revisiting 123.60, 123.40 and 123.00 consecutive supports. During the pair’s additional declines under 123.00, January 04 low near 122.60 can try disappointing bears, if failed may open the doors for late-April 2017 bottoms around 122.00. On the upside, a successful clearance of 124.20 can trigger price recovery towards 124.50 but a near-term descending trend-line near 124.85/90 might challenge buyers then after. Given the presence of extra rise above 124.90, current month high near 125.25, 100-day simple moving average (SMA) at 125.40 can flash on the bulls’ radar. EUR/JPY daily chart Trend: Negative  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 China considers cancelling trade talks with us this week after trump threats -WSJ FX Street 3 years Even after reversing back from 123.60, EUR/JPY is still left to clear 124.15/20 resistance-confluence as it trades near 124.00 on early Monday. 38.2% Fibonacci retracement of January to March upside and an upward sloping trend-line connecting lows since January 04 highlights the importance of 124.15/20 area. Unless the quote rallies past-124.20, it can't avoid revisiting 123.60, 123.40 and 123.00 consecutive supports. During the pair's additional declines under 123.00, January 04 low near 122.60 can try disappointing bears, if failed may open the doors for late-April 2017 bottoms around 122.00. On the upside, a successful clearance of 124.20 can trigger price… 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.
