EUR/JPY: Euro approaches critical resistance at 129.740

Denis Joeli Fatiaki Independent Analyst

EUR/JPY: Euro approaches critical resistance at 129.740

What is going on now with EUR/JPY?

EUR/JPY: The Euro managed to break above 130.000 during yesterdays session and reached its estimated target at 130.395 before pulling back to 130.000. The pair continued down to 129.425 during the European session; however, the pair managed to bounce at 129.425 in this morning trades and pushed prices back up to 129.475.

Our forecast

EUR/JPY: The Euro held on above 129.475 and reached 129.740 in this mornings trade but failed to continue and retreated to 129.475. The pair now trades at 129.600 in the 60 minutes time frame and might have another attempt at 129.740. If it is successful at 129.740, then the next target is estimated at around 130.000. The pair could fall to 129.335 and 129.245 if it fails at 129.475

Support -129.475, 129.335, and 129.245

Resistance - 129.740, 130.00, and 130.395

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the EUR/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the EUR/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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