EUR/USD started another decline from the 1.0200 resistance. USD/JPY is rising and could soon clear the key resistance zone of 145.00.
Important takeaways for EUR/USD and USD/JPY
· The Euro started a new decline and even traded below the 1.0020 support.
· There was a break below a major uptrend line with support near 1.0140 on the EUR/USD hourly chart.
· USD/JPY started a fresh rally after holding well above the 141.50 support.
· There is a key bullish trend line forming with support near 142.30 on the hourly chart.
EUR/USD Technical Analysis
Last week, the euro was able to recover above the 1.0100 level against the US dollar. The EUR/USD pair even broke the 1.0150 level, but bears were active near the 1.0200 zone.
A high was formed near 1.0197 at FXOpen and the pair started a further decline. There was a clear move below the 1.0150 and 1.0120 support levels. The pair dropped below the 50% Fib retracement level of the upside move from the 0.9864 low to 1.0197 high….Read more: Blog FXOpen