Major support - 128 (200 day W MA) Major resistance -129.35 EUR/JPY hits fresh 9 month low on account of global equities sell -off pair has broken major support 128 and declined till 127.31. It is currently trading at 12…
EUR/JPY hits fresh 9 month low on account of global equities sell -off pair has broken major support 128 and declined till 127.31. It is currently trading at 127.42.
The market awaits major US economic data and FOMC Minutes meeting for further strength in US dollar which in turn affects EUR/JPY movement.
Any break below 128 confirms minor trend reversals a decline till 126/125 is possible.
On the higher side minor resistance is around 128.40 and break above targets 129.35/129.85.
Overall trend reversal only above 130.
It is good to sell on rallies around 128-128.10 with SL around 129.35 for the TP of 126/125
