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EUR/JPY: Euro capped at 130.000; critical support is at 129.475

Written by By OzForex Research | 2018-11-08 23:40:00 GMT

 

What is going on now with EUR/JPY?
 
EUR/JPY:  The Euro had two runs to 130.000 resistance in the last 24 hours but failed to break through. The latest attempt to break through 130.000 failed during the European session and extended the support level down to 129.475 in this mornings session.

Our forecast

EUR/JPY: The Euro bounced at129.475 support and currently trades at 129.568. The pair could continue to 129.755 and 130.000 if it maintains above 129.475. The pair could fall further down to 129.250 and 129.025 if it fails to hold at 129.475. The major resistance is at 130.000

Support/short - 129.475,129.250, and 129.025

Resistance/Long - 129.755, 130.000, 130.250, 130.390, and 130.575

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

 

Chart 1: The short-term view of the EUR/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the EUR/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

By OzForex Research
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