News

EUR/JPY: Holding a cluster of major support levels – Credit Suisse

EUR/JPY continues to hold long-term support, but the broader risk is seen for a break lower, as analysts at Credit Suisse note.

Key quotes

“EUR/JPY continues to hold a cluster of major support levels at 116.12/114.85 to keep the market entrenched in a broad range.” 

“Our bias though is to the downside for an eventual clear break below 114.85 to resolve the range lower, opening the door to a fall back to 112.08, then the 109.55 low of 2016.” 

“Resistance at 119.90 ideally caps on a weekly closing basis.”

Articles You May Like

15 Year Old Forex Trader Reads Chart Like a Pro & Reveals His “Golden Zone” Trading System
How to Day Trade in Forex For Beginners (Easy Step-By-Step Guide)
No STOP Forex Trading: GBPJPY 1000 pips Hedged Grid system using grid Gap for best gains 🌟🌟🌟🌟🌟
WTI crude falls $1 from the highs
WTI strength fizzles around $34.00, API data eyed

Leave a Reply

Your email address will not be published. Required fields are marked *