- EUR/JPY comes under pressure and drops to the sub-125.00 area.
- The so far monthly lows around 124.00 emerges as the next support.
EUR/JPY’s rally managed to hit fresh tops near 125.60 on Thursday, although the move struggled to push further north and sparked the ongoing corrective downside.
In spite of the knee-jerk, extra gains remain well on the cards and underpinned by the generalized improvement in the risk complex. Against this, the next key hurdle emerges at the mid-127.00s, where sits the March 2019 high.
If sellers remain in control in the short-term, then
EUR/JPY risks a visit to last week’s lows around the 124.00 mark (August 3).
EUR/JPY daily chart
EUR/JPY 0001-01-01T00:00:00
0/0 (0%)
H0 L0
| S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
| 123.47 |
123.97 |
124.41 |
125.34 |
125.84 |
126.28 |
| Trend Index |
OB/OS Index |
| Bullish |
Neutral |
