Cross-rates signals: EUR/JPY maintains the potential to decline

As mentioned earlier in the EUR/JPY forecast, the level of 132.40-20 is a significant support, which limits the development of the “double top” figure.

After the rapid exit of the pair EUR/JPY from the side triangle, this pair is in the correction phase, which is limited to resistance levels: 132.60 and 132.90. Fixing the pair below the zone 132.10-40 will be a signal for the development of “double top” figure. The goals are located at support levels: 131.40-50 and 130.80-131.00.

Fig. EUR/JPY H4. The current price is 132.40.

Anton Hanzenko