Cross-rate signals: EUR/JPY continues to be adjusted

Despite the overbought of euro and some risks in the euro area, the cross-rate EUR/JPY continues to trade in an upward correction trend. Level 128.00 (Fibo 50.0 from the high of May 22) is a significant resistance to further growth of the pair and movement in the uptrend.

So, fixing of the cross EUR/JPY above 128.00 will indicate the preservation of the uptrend and will open the way to the resistance levels: 128.50-70 and 129.00-30. Support is located at the levels: 127.20-00 and 126.80.

Fig. EUR/JPY. Current price – 127.60

Also, read: “Legendary Traders of the Present”

Hanzenko Anton