EUR/USD started a decent rally above the 0.9900 resistance zone. 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 formed a base and started a decent wave of recovery above the 0.9800 area.
· There is a major bullish trend line forming with support near 0.9910 on the EUR/USD hourly chart.
· USD/JPY declined sharply before finding support near the 143.50 level.
· There was a break below a key uptrend line with support near 144.55 on the hourly chart.
EUR/USD Technical Analysis
Last week, the euro found support near the 0.9550 area against the US dollar. The EUR/USD The pair started a steady recovery wave above the 0.9600 and 0.9680 resistance levels.
There was a steady rise above the 0.9800 resistance zone and the 50-hour simple moving average. The pair even rose above the 0.9900 resistance zone. A high was formed near 0.9998 at FXOpen and the pair is now correcting the downside…Read more: Blog FXOpen
