The 14-day relative strength index (RSI) shows the EUR/JPY is most oversold in over a year. Still, the corrective rally can remain elusive if the Italian bond market sell-off continues. Daily chart Spot Rate: 126.80 Daily High:127.28 Daily Low: 126.51 Trend: Bearish but oversold Resistance 127.56 (Aug. 18 low) 127.63 (descending 5-day MA) 128.05 (August 2017 low) Support 126.51 (session low) 125.80 (May 2017 high) 125.31 (June 2, 2017 high) The 14-day RSI has dropped to 26 – the lowest since April 32017, signaling the sell-off is overdone/oversold conditions. So, a corrective rally could be on the cards, although it all depends on the performance of the Italian bond markets. The 10-year Italy-German yield spread rose to 232 basis points on Monday – the highest level since December 2013. The common currency could take another beating if the yield spread rises further in the EUR-negative manner. 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 N. Korea leader Kim Jong-Un’s ‘right hand man’ headed to US for talks – Yonhap FX Street 5 years The 14-day relative strength index (RSI) shows the EUR/JPY is most oversold in over a year. Still, the corrective rally can remain elusive if the Italian bond market sell-off continues. Daily chart Spot Rate: 126.80 Daily High:127.28 Daily Low: 126.51 Trend: Bearish but oversold Resistance 127.56 (Aug. 18 low) 127.63 (descending 5-day MA) 128.05 (August 2017 low) Support 126.51 (session low) 125.80 (May 2017 high) 125.31 (June 2, 2017 high) The 14-day RSI has dropped to 26 - the lowest since April 32017, signaling the sell-off is overdone/oversold conditions. So, a corrective rally could be on the cards, although it… 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.
