EUR/JPY has breached the two-week-long falling trendline, but the 50-hour moving average (MA) is capping gains. A convincing move above the moving average hurdle of 129.50 would validate the upside break of the falling trendline and confirm a bullish reversal. In this case, the EUR/JPY could move above 130.00 (psychological level). Hourly chart Spot Rate: 129.48 Daily High: 129.54 Daily Low: 129.27 Trend: Bullish above 50-day MA Resistance R1: 129.65 (Uptrend from May 29 low) R2: 130.00 (psychological hurdle) 130.26 (20-day moving average) Support S1: 129.27 (session low) S2: 128.52 (lower Bollinger Band – standard deviation of +2, -2 on the 20-day moving average) S3: 128.35 (50% Fib R of the rally from the May 29 low to July 17 high) 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 Japan’s Suga: No comment on if BoJ to start laying groundwork for QE exit FX Street 5 years EUR/JPY has breached the two-week-long falling trendline, but the 50-hour moving average (MA) is capping gains. A convincing move above the moving average hurdle of 129.50 would validate the upside break of the falling trendline and confirm a bullish reversal. In this case, the EUR/JPY could move above 130.00 (psychological level). Hourly chart Spot Rate: 129.48 Daily High: 129.54 Daily Low: 129.27 Trend: Bullish above 50-day MA Resistance R1: 129.65 (Uptrend from May 29 low) R2: 130.00 (psychological hurdle) 130.26 (20-day moving average) Support S1: 129.27 (session low) S2: 128.52 (lower Bollinger Band - standard deviation of +2, -2 on… 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.
