Currently, the EUR/JPY pair is reporting moderate losses at 127.42, having failed to cut through the 50-hour EMA on Friday. The EUR/JPY’s recovery from the recent low of 126.63 will likely resume if the resistance at 127.70 – 50-hour exponential moving average (EMA) and falling trendline resistance – is scaled. Drilling on the 15-minute chart, the pair has charted a bull flag pattern. An upside break would open the doors to 128.77 (target as per the measured move method). However, the bears may feel emboldened, if the flag support is breached. Hourly Chart 15-min Chart Spot Rate: 127.37 Daily High: 127.66 Daily Low: 127.37 Trend: Bullish above 127.70 Resistance R1: 127.70 (50-hour EMA + trendline hurdle) R2: 128.47 (10-day EMA) R3: 128.32 (Oct. 18 low) Support S1: 127.29 (flag support) S2: 126.93 (support as per the hourly chart) S3: 126.63 (recent 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 US: Q3 GDP Growth Not as Strong as It Seems – Nomura FX Street 4 years Currently, the EUR/JPY pair is reporting moderate losses at 127.42, having failed to cut through the 50-hour EMA on Friday. The EUR/JPY's recovery from the recent low of 126.63 will likely resume if the resistance at 127.70 - 50-hour exponential moving average (EMA) and falling trendline resistance - is scaled. Drilling on the 15-minute chart, the pair has charted a bull flag pattern. An upside break would open the doors to 128.77 (target as per the measured move method). However, the bears may feel emboldened, if the flag support is breached. Hourly Chart 15-min Chart Spot Rate: 127.37 Daily High:… 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.
