EURJPY Breakdown

17 באוג׳ 2017

EURJPY broke minor trend line after it priced the chart for Export and adjusted trade balance news from JPY side. Trump's non-replyments about Korean threads made USD a bit strenghtened so EUR pairs affected as EURJPY do. As we see after breakdown at minor trend parrity made its retracement back to trend and bounced back. After minor trend we got a key level at 128.50 band which is important to show way. That key level predicted as a good support a month ago and carried EURJPY to make new higher highs around 131.40 band. If our resistance at 128.50 breakdowns, EURJPY will move back to its fibbo %-61.8 band which is at 126.20 band makes good opportunity on sell. EUR's weakness will help to lead it more to 123.50 band on long term positions.