EUR/JPY: Euro holds above 129.475

Denis Joeli Fatiaki Independent Analyst

EUR/JPY: Euro holds above 129.475

What is going on now with EUR/JPY?

EUR/JPY: The Euro failed to continue above 130.395 in the last session and fell out of the bullish channel. It was down to 129.696 at the end of the last session. The pair started into today's session below the previous close but failed to push on and dropped to 129.35 support.

Our forecast

EUR/JPY: The Euro currently trades at 129.555 after bouncing at the bottom of the price channel in the 60 minutes price chart. The pair is holding above 129.475 support but needs to break and hold above 129.740 to continue to its target at 130.000. The pair could pull back to 129.245 if it fails at 129.475

Support -129.475, 129.335, and 129.245

Resistance - 129.740, 130.000, 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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