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EUR/USD is correcting lower and trading below 1.0820. USD/JPY could gain bullish momentum if there is a clear move above the 130.80 resistance.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a downside correction from the 1.0870 resistance zone.
· There was a break below a key bullish trend line with support near 1.0800 on the hourly chart of EUR/USD.
· USD/JPY is attempting a fresh increase above the 130.00 support zone.
· There was a break above a major bearish trend line with resistance near 129.20 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro found support near the 1.0700 zone against the US Dollar. The EUR/USD pair started a steady upward move above the 1.0750 and 1.0800 resistance levels.
There was a clear increase above the 1.0820 resistance zone and the 50 hourly simple moving average. The pair even climbed towards the 1.0850 resistance zone. A high was formed near 1.0874 on FXOpen and the pair is now correcting gains…More info: blog FXOpen
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Image and article originally from www.mql5.com. Read the original article here.