Cross-rate signals: EUR/JPY is limited by a downtrend

The EUR/JPY cross remains under the pressure of a monthly downtrend, this week which is limited by the support level of 117.70-50. A break of this mark will indicate a resumption of decline and open the way to support levels: 117.00 and 116.70. Resistance is located at 118.00 and 118.20.

Read also: “Multifactorial Analysis of the Forex Market”

Hanzenko Anton

---

 

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. ECB is preparing a stimulus package
2. The national currency exchange rate as an advantage in trade talks
3.  A new front opens in the trade war

Current Investment ideas:

1. Selling Alcoa shares makes a profit! Three reasons to connect now!
2. The trade war for Boeing: good or bad and how can we make money from it!