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EUR/USD Nosedives, USD/JPY Aims More Upsides – Analytics & Forecasts – 24 August 2022

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EUR/USD started another decline from the 1.0200 resistance. USD/JPY is rising and might gain pace above the 138.00 resistance zone.

Important Takeaways for EUR/USD and USD/JPY

· The Euro started a fresh decline and even traded below the 1.0000 support.

· There was a break above a key bearish trend line with resistance near 0.9955 on the hourly chart of EUR/USD.

· USD/JPY started a fresh increase after it broke the 133.50 resistance zone.

· There was a break above a major bearish trend line with resistance near 134.00 on the hourly chart.

EUR/USD Technical Analysis

This past week, the Euro started a fresh decline from well above the 1.0180 level against the US Dollar. The EUR/USD pair declined below the 1.0150 and 1.0120 support levels.

The bears even pushed the pair below the 1.0050 level. There was a close below 1.0000 and the 50 hourly simple moving average. The pair traded as low as 0.9898 and recently started a minor upside correction…More  info:  blog  FXOpen 

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