EUR/USD started a fresh decline from well above 1.1380. USD/JPY remained in a bearish zone and settled below the 114.50 pivot level.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a fresh decline after there was no close above the 1.1420 level.
· There is a key bearish trend line forming with resistance near 1.1308 on the hourly chart of EUR/USD.
· USD/JPY started a fresh decline from well above the 114.50 pivot zone.
· There is a short-term rising channel forming with resistance near 114.20 on the hourly chart.
EUR/USD Technical Analysis
Recently, the Euro failed to clear the 1.1420 zone against the US Dollar. The EUR/USD pair started a fresh decline and traded below the 1.1350 support zone.
The pair even broke the 1.1320 level and settled below the 50 hourly simple moving average. A low was formed near 1.1263 on FXOpen and the pair is now correcting higher. There was a move above the 50% Fib retracement level of the recent decline from the 1.1334 swing high to 1.1263 low. .. ..More info: blog FXOpen
