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EUR/USD Faces Hurdle While USD/JPY Aims Recovery – Analytics & Forecasts – 28 December 2022

Byadmin

Dec 28, 2022

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EUR/USD is stable above the 1.0600 support zone. USD/JPY could gain bullish momentum if there is a clear move above the 135.00 resistance.

Important Takeaways for EUR/USD and USD/JPY

· The Euro started a downside correction from the 1.0670 resistance zone.

· There is a key bullish trend line forming with support near 1.0635 on the hourly chart of EUR/USD.

· USD/JPY is attempting a recovery wave from the 130.60 support zone.

· Earlier, there was a break below a rising channel with support near 135.00 on the hourly chart.

EUR/USD Technical Analysis

This past week, the Euro found support near the 1.0570 zone against the US Dollar. The EUR/USD pair started a steady upward move above the 1.0600 and 1.0620 resistance levels.

There was a clear increase above the 1.0650 resistance zone and the 50 hourly simple moving average. The pair even climbed towards the 1.0670 resistance zone. A high was formed near 1.0669 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.