EURJPY DOWNSIDE CONTINUATION

12 nov 2018

EURJPY has been on our watchlist as we expected further EURO downside. Technically looking at the daily chart we can see the market rejected the key resistance and 50.0 Fib level of 130.12. Recently we have seen the market break a supporting trendline highlighting further downside to come in this market. We are looking for lower timeframe trades down to the key support of 127.35. If this support breaks expect further downside to continue to the 127.2 Fib extension and support of 124.95.