Сross-rates signals: EUR/JPY is preparing to resume the decline

The EUR/JPY cross is trading in a restrained downtrend during a current week, limited to the support level of 129.00-20, which is the main support that limits the further decline of this pair. As a result, this sales signal can be considered a descending triangle, the lower limit of which is this support.

The sales zone is located at the level of 129.00-20, breaking through which will open the way to the support levels: 128.70-50 and 125.00-20. Resistance is located on the upper border of the downward channel at marks: 129.50 and 129.80.

Read also: “Long-term positions on world indices”

Hanzenko Anton

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