untitled design

EUR / JPY falls back on Monday, finding support at 128.00

  • EUR / JPY unchanged on Monday, remains sideways, away from the recent low.
  • Central banks week threatens the continuation of lateral movements at the crossroads.

The EUR / JPY is falling modestly on Monday. The pullback found support above 1280.00 and remains at the 128.10 / 20 area. The crossing continues with lateral tours, facing limitations both on the upside and on the downside.

The USD / JPY gains on Monday, despite falling Treasury yields, were offset by the EUR / USD decline. This combination keeps the EUR / JPY sideways, as since late November.

Last week the cross reached 129.10, but quickly retraced they returned to the previous range, that remains firm. A rally above 128.50 could point to a test of 129.00. While if it falls below 127.80, it would expose the area of ​​recent lows and the floor around 127.50, the break of which could favor more volatility and a downward acceleration.

This week the focus is on the Federal Reserve, which with its decision on Wednesday can activate large tours in the market. The European Central Bank will also announce its decisions. Events have the potential to cut through the EUR / JPY sideways bias.

There are no clear signs on the direction of the break. The EUR / JPY chart still shows a clear bearish bias, day and week.

Technical levels

.

You may also like

NZD/USD falls on dovish RBNZ stance
Markets
Joshua

NZD/USD falls on dovish RBNZ stance

RBNZ Governor Orr was dovish, which seems to put pressure on the New Zealand Dollar. GDP and initial jobless claims

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular