EUR/JPY Technical Analysis: Bears on the offensive as US-China trade war fears rise
|- The EUR/JPY hourly chart shows a bear flag breakdown - a bearish continuation pattern, which indicates the sell-off from the high of 130.36 has resumed.
- The JPY is solidly bid in Asia on escalating US-China trade tensions and could extend gains further on escalating US-China trade tensions.
Hourly chart
Spot Rate: 127.95
Daily High: 128.42
Daily Low: 127.82
Trend: Bearish
R1: 128.42 (daily high)
R2: 128.82 (5-day moving average)
R3: 129.04 (10-day moving average)
Support
S1: 127.70 (previous day's low)
S2: 127.49 (50% Fib R of May 29 low - June 14 high)
S3: 126.81 (61.8% Fib R of May 29 low - June 14 high)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.