The US-China negotiation driven risk sentiment favors safe-havens like the JPY. U-turn from immediate resistance-line highlights recent lows. With the risk aversion ruling over market sentiment off-late, the EUR/JPY pair took a U-turn from immediate resistance-line as it trades near 123.20 ahead of the Europe markets open on Friday. Considering the pair’s latest pullback from short-term resistance, coupled with the risk-on sentiment, chances of its further declines to 123.00, 122.85 and recent lows near 122.50 can’t be denied. In case of additional south-run below 122.50, 61.8% Fibonacci expansion of moves since early-month can please sellers with 122.00 the figure. On the flip side, a break of 123.60 resistance-line can trigger the quote’s rise to 124.30 whereas 124.70 could flash on the chart afterward. Given the prices keep rallying beyond 124.70, 125.00 and 125.25/30 can become buyers’ next landmarks. EUR/JPY hourly chart Trend: Bearish  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 NZ: Retail spending rose 0.6% in April – Westpac FX Street 3 years The US-China negotiation driven risk sentiment favors safe-havens like the JPY. U-turn from immediate resistance-line highlights recent lows. With the risk aversion ruling over market sentiment off-late, the EUR/JPY pair took a U-turn from immediate resistance-line as it trades near 123.20 ahead of the Europe markets open on Friday. Considering the pair's latest pullback from short-term resistance, coupled with the risk-on sentiment, chances of its further declines to 123.00, 122.85 and recent lows near 122.50 can't be denied. In case of additional south-run below 122.50, 61.8% Fibonacci expansion of moves since early-month can please sellers with 122.00 the figure. 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.
