EUR/JPY posted a new high of 126.75 last week but this mark was not confirmed by the daily RSI. Notwithstanding, the pair is holding accelerated uptrend at 123.83. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects a small drop but notes that the EUR/JPY pair still targets the 2014-2020 resistance line at 127.60. Key quotes “EUR/JPY reached a peak of 126.75 last week; the 2014-2020 resistance line lies at 127.60. A resistance line only connects 2 points and we have not strong bias on whether this will hold or not.” “We note that the new highs have not been confirmed by the daily RSI and it is possible that we will see a minor retracement. Dips lower should remain well supported by three-month uptrend at 123.83 and the January high at 122.88. This guards the current July low at 120.28.” “Above the 127.60 downtrend we have the 200-month ma at 130.57.” 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 GBP/USD breaks long-term downtrend to target late 2019 high at 1.3514 – Credit Suisse FX Street 2 years EUR/JPY posted a new high of 126.75 last week but this mark was not confirmed by the daily RSI. Notwithstanding, the pair is holding accelerated uptrend at 123.83. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects a small drop but notes that the EUR/JPY pair still targets the 2014-2020 resistance line at 127.60. Key quotes “EUR/JPY reached a peak of 126.75 last week; the 2014-2020 resistance line lies at 127.60. A resistance line only connects 2 points and we have not strong bias on whether this will hold or not.” “We note that the new highs have… 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.
