OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY technical analysis: Bears target a break to 117.40

  • Bears in control with expanding moving averages pressuring the downside.
  • The 20-DMA is first key resistance but bears target a break of 118 handle. 

EUR/JPY is trading in a bearish daily trend but is stalling at the 118 handle as risk appetite returns.  EUR/JPY recently exceeded the prior 2019 lows pressured by expanding moving averages on the way down with the price a sell on rallies. 

A break of 118 will open the next support to the downside at 117.40/19 which guards the 114.86 2017 low. On the upside, an initial resistance is the 20-day moving average in the 119.32 ahead of the 120.06 25th July low. 


GBP/USD: On the back foot around 1.2130 amid Brexit pessimism

With the fresh blow to British PM’s expectations of a deal with the EU, the GBP/USD pair declines to 1.2126 on Tuesday morning in Asia.
Read more Previous

GBP/JPY technical analysis: Short-term support-line limits pullback inside a week-long rising wedge

GBP/JPY rests on an immediate rising trend-line, inside short-term rising wedge, as it trades near 129.27 during the early Asian session on Tuesday.
Read more Next
Start livechat