EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
USD/CHF can go lower
Information is not investment advice
USD/CHF is indecisive between 1.0025 and 0.9985, where it consolidated for 2 days. Still, it looks like the downtrend from last week’s highs is about to continue. If the pair breaks below the wedge seen on H4 and fall below the parity level, it will slide to 0.9985 and then be vulnerable to decline to 0.9955 (38.2% Fibo of the January-February advance, 100-day MA). On the upside, the advance above 1.0025 is needed to bring the pair up to 1.0050.
Elizabeth Belugina
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