The weekly sideline theme in EUR/JPY remains unchanged so far. The resumption of the selling pressure should target monthly lows near 119.20. The price action in EUR/JPY continues to struggle with the 21-day SMA in the vicinity of 120.50. The persistent inability of the cross to surpass this key barrier has sparked the ongoing consolidative phase, always on the back of developments from the US-China trade front. The resumption of the downside pressure is expected to meet initial support in the 119.50/24 band, where converge the 100-day and 55-day SMAs as well as monthly lows recorded on November 14th. In order to alleviate the immediate downside pressure, the cross needs to overcome weekly highs around 120.50, ideally in the short-term horizon. 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 USD/CAD holds steady near multi-week tops, above 1.3300 handle ahead of Poloz FX Street 3 years The weekly sideline theme in EUR/JPY remains unchanged so far. The resumption of the selling pressure should target monthly lows near 119.20. The price action in EUR/JPY continues to struggle with the 21-day SMA in the vicinity of 120.50. The persistent inability of the cross to surpass this key barrier has sparked the ongoing consolidative phase, always on the back of developments from the US-China trade front. The resumption of the downside pressure is expected to meet initial support in the 119.50/24 band, where converge the 100-day and 55-day SMAs as well as monthly lows recorded on November 14th. In… 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.
