OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY Technical Analysis: Consolidates below 126.75-80 supply zone, set-up remains in favor of bullish traders

   •  The cross stalled its recent positive momentum near the 126.75-80 supply zone and has been consolidating within a broader range over the past three trading session.

   •  The fact that the cross has already found acceptance above 100-day SMA, coupled with bullish oscillators on 4-hourly/daily charts support prospects for additional gains.

   •  Hence, any meaningful pullback might now be seen as an opportunity to initiate some fresh bullish positions for a move towards March swing highs - around the 147.40-50 region.

   •  The latter coincides with the very important 200-day SMA, which if cleared would be seen as a key trigger for bullish traders and set the stage for an extension of the appreciating move.

EUR/JPY daily chart


When are the UK retail sales and how could they affect GBP/USD?

UK retail sales Overview The UK retail sales, scheduled to be published later this session at 0830 GMT, are expected to drop 0.3% m/m in March, follo
Read more Previous

Germany Markit PMI Composite above forecasts (51.7) in April: Actual (52.1)

Germany Markit PMI Composite above forecasts (51.7) in April: Actual (52.1)
Read more Next
Start livechat