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EUR/JPY: Moving In Downward Trend

EUR/JPY: Moving In Downward Trend

Since half year price moves in downward trend. On last Friday supply break below important support at 131.00 level. Today EUR/JPY drop below 130.00. Nearest target of declines is level 128.80. Below it is strong support at 127.20 level. Currently it is more likely if there won’t be any macro data which could make upward movement, only 127.20 level could make a rebound.

EUR/JPY Weekly Chart

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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