Cross-rates signals: EUR / JPY keeps a downtrend

Despite the decrease in risks around the trade confrontation between the US and the EU, the single currency remains under pressure against safe assets, which is mainly caused by the ECB’s soft policy. In conditions of maintaining the downward dynamics and risks, the euro should expect the resumption of the decline to support levels of 129.00 and 128.70-50. The level limiting the decline is 129.50-30, breaking through which will become a signal for sales. The upper boundary of the downward channel acts as stops: 129.80 and 130.00.

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Hanzenko Anton

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Topical articles of the trader’s blog:

1. In Focus: Analysis of transactions for a EUR/USD pair during the week
2. Stock indices: European Union
3. Emerging markets and their prospects: Russian Ruble (RUB)