Thursday, October 15, 2026

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FxWirePro: EUR/JPY on track to test 124 levels, major resistance at 124.60

EUR/JPY recovers previous day's losses to hit fresh daily highs at 123.86. Techs on daily charts support upside, pair has broken above 5&10-DMAs at 123.47/54 respectively. Test of 124 levels likely. Major resistance alig…

By FxWire Pro
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FxWirePro: EUR/JPY on track to test 124 levels, major resistance at 124.60
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  • EUR/JPY recovers previous day's losses to hit fresh daily highs at 123.86.
     
  • Techs on daily charts support upside, pair has broken above 5&10-DMAs at 123.47/54 respectively.
     
  • Test of 124 levels likely. Major resistance aligns at 124.60. Further upside only on breaks above.
     
  • Support on the downside are located at 123, 122.92 (May 19th lows) and then 122.61 (May 16th lows).
    ​

Recommendation: Go long on dips around 123.50, SL: 123, TP: 124/124.50
 

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By FxWirePro Team