Cross-rates signals: EUR/JPY is near significant resistance

Cross EUR/JPY, despite the overall risk reduction and general easing of geopolitical risks in the world, continues to be under the pressure of a downtrend.  Political risks in Europe and the uncertainty surrounding the global economy continue to be the reason for the persistence of downward sentiment for this pair.

EUR/JPY after almost daily movement in the flat remains under the pressure of the downward dynamics. Fixing the cross below key support 124.20-30 will indicate a resumption of the pair’s decline to support levels: 123.40 and 123.00. Update  of the resistance: 124.60 and 124.80 will cancel expectations for decline.

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Hanzenko Anton

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