EUR/USD: 1-hour
First up is this break-and-retest play on EUR/JPY’s 1-hour forex chart! The pair recently surged past the ceiling at the 148.00 major psychological level and zoomed up to 149.75. From there, the pair pulled back to support near the 50% Fibonacci retracement level, which is also right around the broken resistance zone. Price seems to be showing upside momentum for now since stochastic is climbing, which suggests that EUR/JPY might make its way back up to the previous highs. A deeper pullback could lead to a test of the 148.00 handle while a strong return in buying pressure could lead to a move towards 150.00.
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