Cross-rates signals: EUR/JPY forms a downward reversal

Cross EUR/JPY maintains the downward trend in recent weeks, while maintaining the uncertainty of trade negotiations and retreat from the level of 120.50-70.

A resumption of the decline should be expected below the zone: 120.20-00.

This will open the way to support levels: 119.40 and 119.00. Resistance is located at: 120.30 and 120.60, fixing a pair above which will cast doubt on the keeping the downtrend.

Read also: “What to expect from the Bank of England in the face of a tough Brexit“

Hanzenko Anton

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