The upside break of the falling trendline, as seen in the hourly chart, indicates the sell-off from the July 17 high of 131.99 has ended. The violation of the descending trendline is also backed by the bullish relative strength index (RSI). The 100-hour MA is stationed below the 200-hour MA, meaning the path of least resistance is to the downside. Hence, the EUR/JPY is struggling to post sustainable gains above 130.00. That said, a convincing move above 130.27 (overnight high) would add credence to the bullish developments and open the doors to 200-hour MA, currently located at 130.84. Hourly chart Spot Rate: 130.00 Daily High: 130.26 Daily Low: 129.91 Trend: Bullish above 130.27. Resistance R1: 130.25 (50-hour moving average) R2: 130.45 (July 23 high hurdle on the hourly chart) R3: 130.84 (200-hour moving average) Support S1: 129.94 (trendline support) S2: 129.74 (July 24 low support on the hourly chart) S3: 129.41 (July 25 low) 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 Venezuela to drop five zeroes from Bolivar – Reuters FX Street 5 years The upside break of the falling trendline, as seen in the hourly chart, indicates the sell-off from the July 17 high of 131.99 has ended. The violation of the descending trendline is also backed by the bullish relative strength index (RSI). The 100-hour MA is stationed below the 200-hour MA, meaning the path of least resistance is to the downside. Hence, the EUR/JPY is struggling to post sustainable gains above 130.00. That said, a convincing move above 130.27 (overnight high) would add credence to the bullish developments and open the doors to 200-hour MA, currently located at 130.84. Hourly chart… 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.
