Karen Jones, Team Head FICC Technical Analysis at Commerzbank, suggested the cross needs to surpass the 120.55/72 band in order to regain upside pressure. Key Quotes “EUR/JPY is on the defensive but with a second 13 count and TD support at 116.36 we are cautious of blindly following this lower. Initial resistance is the 20 day ma at 118.55 and the 120.06 25th July low. Key short term resistance is the 55 day ma and the 3 month downtrend at 120.55/72. The market will need to regain this on a closing basis to reassert upside interest”. “TD support at 116.36 guards the 114.86 2017 low. The break lower last week saw the market erode a 2012-2019 support line and this leaves a negative bias entrenched while below the downtrend”. 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 Litecoin price analysis: LTC/USD regains some ground, still below critical $80.00 FX Street 4 years Karen Jones, Team Head FICC Technical Analysis at Commerzbank, suggested the cross needs to surpass the 120.55/72 band in order to regain upside pressure. Key Quotes "EUR/JPY is on the defensive but with a second 13 count and TD support at 116.36 we are cautious of blindly following this lower. Initial resistance is the 20 day ma at 118.55 and the 120.06 25th July low. Key short term resistance is the 55 day ma and the 3 month downtrend at 120.55/72. The market will need to regain this on a closing basis to reassert upside interest". "TD support at 116.36… 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.
