EUR/JPY created an inverted bearish hammer yesterday, confirming an end of the rally from the March 8 low of 124.27. A bullish-to-bearish reversal, however, would be confirmed if the JPY cross closes below 126.35 today, validating the bearish hammer candle. The probability of the pair closing below 126.35 today would rise if the sideways channel seen in the hourly chart is breached to the downside. Acceptance below 126.35 would confirm a channel breakdown and open the doors for a deeper sell-off to 125.53 (50% Fib R of the recent rally). As of writing, the pair is trading at 126.20. Daily chart 4-hour 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 XRP/USD market overview: Price continues to trudge along in a narrow range FX Street 4 years EUR/JPY created an inverted bearish hammer yesterday, confirming an end of the rally from the March 8 low of 124.27. A bullish-to-bearish reversal, however, would be confirmed if the JPY cross closes below 126.35 today, validating the bearish hammer candle. The probability of the pair closing below 126.35 today would rise if the sideways channel seen in the hourly chart is breached to the downside. Acceptance below 126.35 would confirm a channel breakdown and open the doors for a deeper sell-off to 125.53 (50% Fib R of the recent rally). As of writing, the pair is trading at… 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.
