EUR/USD started another decline from the 1.0300 resistance. USD/JPY is declining and might continue to move down below 137.00.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a fresh decline and even traded below the 1.0200 support.
· There was a break below a key bullish trend line with support near 1.0205 on the hourly chart of EUR/USD.
· USD/JPY declined heavily from the 139.00 resistance zone.
· There was a break below a major bullish trend line with support near 136.30 on the hourly chart.
EUR/USD Technical Analysis
This week, the Euro started a fresh decline from well above the 1.0280 level against the US Dollar. The EUR/USD pair declined below the 1.0250 and 1.0220 support levels.
The bears even pushed the pair below the 1.0200 level. There was a close below 1.0200 and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.0097 swing low to 1.0293 high….More info: blog FXOpen
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