Cross-rate signals: EUR/JPY is adjusted after a decrease

The EUR/JPY cross significantly strengthened from the beginning of the day due to the risk reduction, thus unloading the oversold of the pair. The overall dynamics of this cross continue to be limited by the downward trend and the overall weakness of the euro.

The repulsion is expected in the range from 130.20 to 130.80, which will resume the decline to the support levels: 129.50 and 129.20. In this case, closing the day above the level of 130.80-90 will cast doubt on the safety of the downtrend and the possibility of reduction of the pair.

Fig. EUR/JPY. Current price – 130.40

Hanzenko Anton