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EUR/JPY technical analysis: Bears eye 117.85 January spike low and trend line support

2019-06-19 06:45

  • EUR/JPY has been in consolidation in recent trade in a symmetrical triangle formation which can go either way.

  • However, longer term,  the cross penetrated a 38.2% retracement at 123.10 in a continuation of the downside. 

  • A break of the 120 psychological level will put the 119.91 78.6% Fibonacci retracement level under pressure that guards a run to 117.85 January spike low and trend line support.

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