EUR JPY Forex market trading news
5/26/2017 8:08:33 AM
The improved offered bias around the single currency has provoked EUR/JPY to concede part of the spike to fresh 2017 tops in the 125.84 band seen earlier in the week.
The cross has recoiled to the area of several day lows around 124.78 during the European morning, equivalent with the 38.3% Fibonacci retracement of the 2015-2016 fall amongst a persistent shortage of direction around EUR.
At present the cross is losing 0.42% at 124.86 and a break of 124.50 would expose 124.10and then 122.54. On the other hand, the next hurdle aligns at 125.85 followed by 126.53 and ultimately 128.30.
FOREX market analysis by FxErvin.