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Forex: EUR/JPY bouncing off lows, around 120.70/75

After falling to the area below 120.50, the cross found buying interest that pushed the cross back to the 120.7-/75 region, in a context dominated by the increasing investors’ preference for safe havens.

“While would allow for a slight rebound from here, the recent sell off was damaging and we would allow for an extension of losses to 117.29 then 114.07, this is the 38.2% and 50% retracements of the move up from November”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

EUR/JPY is now losing 0.13% at 120.70 and a dip below the psychological level at 120.00 would then bring 119.22 (low Feb.27) and then 118.97 (low Feb.26).
On the upside, resistance levels line up at 121.82 (high Feb.28) followed by 122.25 (low Feb.21) and then 122.32 (Tenkan Sen line).

Forex: EUR/USD below 1.3000, hits fresh 2013 low

The euro extended losses versus the greenback and finally broke below the 1.3000 psychological level and the 1.2997 which was until minutes ago the 2013 low scored back in January.
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Forex Flash: Political risk portends EUR/USD bear phase – UBS

Stung by the return of political risk in the Eurozone, investors have become far more hesitant in putting euro longs back on. “Our Fixed Income Strategy team has noted in their European Rates Weekly that the 'rally in the periphery is over', and even an 'extended' bear phase could emerge as investors start to zone in on politics, and more importantly, growth.” writes Gareth Berry, a Research Analyst at UBS.
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