Cross-rates signals: EUR/JPY remains pending correction
The cross-rate EUR/JPY, despite a three-week downward movement, is limited by oversold and lower border of the downward channel, which, in turn, borders on the psychology of 129.00.
So, on the formation of the correction from 129.00-128.40 it is worth to consider the purchase transactions with the targets: 130.00 and 130.50. But it is worth noting that trade is carried out against the trend and in time can be limited. Updating the lows cancels expectations for strengthening.
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Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Emerging markets and their prospects: Turkish lira (TRY)
- Stock indices: the UK market
- In Focus: Analysis of transactions for a EUR/USD pair during week
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