FxWirePro: EUR/JPY breaks below 78.6% Fib at 123.38, targets 122
EUR/JPY is retreating from last week’s tops just above 128.00, and downside has broken below 78.6% Fib retrace of 122.05 to 128.22 rise at 123.37. Momentum studies continue to show further downside, pair on track to test…
EUR/JPY is retreating from last week’s tops just above 128.00, and downside has broken below 78.6% Fib retrace of 122.05 to 128.22 rise at 123.37.
Momentum studies continue to show further downside, pair on track to test 122 levels.
Immediate support on the downside is seen at 122.76 (88.6% Fib retrace of 122.05 to 128.22 rise), 122.55 (Apr 7th lows), 122.45 (Feb 24th lows) and then 122 (Mar 1st lows).
On the upside resistances are located at 123, the 123.97 (5-DMA) and then 124.
