EUR/USD started another decline from the 1.0200 resistance. USD/JPY is rising and might soon clear the key 145.00 resistance zone.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a fresh decline and even traded below the 1.0020 support.
· There was a break below a major bullish trend line with support near 1.0140 on the hourly chart of EUR/USD.
· USD/JPY started a fresh increase after it remained well bid above the 141.50 support.
· There is a key bullish trend line forming with support near 142.30 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro was able to recover above the 1.0100 level against the US Dollar. The EUR/USD pair even broke the 1.0150 level, but the bears were active near the 1.0200 zone.
A high was formed near 1.0197 on FXOpen and the pair started a fresh decline. There was a clear move below the 1.0150 and 1.0120 support levels. The pair declined below the 50% Fib retracement level of the upward move from the 0.9864 swing low to 1.0197 high….More info: blog FXOpen