EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
Bad days for EUR/NZD
Information is not investment advice
Last week EUR/NZD tried to test levels above 1.70 but failed to hold there and ultimately closed at 1.6820, below the 100-week MA. The new week started with the euro testing levels below July low and the 50% retracement of the March-June advance at 1.6795. The next targets are 1.6677 (61.8% Fibo) and 1.65. The short-term outlook will remain negative as long as EUR/NZD is trading below 1.6900 (weekly pivot point).
Elizabeth Belugina
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