EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
EUR/USD has failed on the upside
Information is not investment advice
Last week EUR/USD met resistance of the descending 50-week MA (currently at 1.1188). On the D1, we can see that the pair has failed to close above the 200-day MA for every single day since it touched this line on December 12. On Wednesday, the pair closed below the December support line. An attempt to regain higher levels on Thursday was not successful. With the daily Awesome Oscillator trying to make a top, we see the considerable risk of the price sliding down to 1.1080 (50-day MA). The next support is at 1.1065 (100-day MA). Resistance is at 1.1150 and 1.1188.
Elizabeth Belugina
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