EUR/USD started a decent recovery wave above the 0.9900 resistance zone. USD/JPY is rising and might soon clear the key 145.00 resistance zone.
Important Takeaways for EUR/USD and USD/JPY
· The Euro formed a base and started a decent recovery wave above the 0.9800 zone.
· There is a major bullish trend line forming with support near 0.9910 on the hourly chart of EUR/USD.
· USD/JPY declined sharply before it found support near the 143.50 level.
· There was a break below a key bullish trend line with support near 144.55 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro found support near the 0.9550 zone against the US Dollar. The EUR/USD pair started a steady recovery wave above the 0.9600 and 0.9680 resistance levels.
There was a steady increase above the 0.9800 resistance zone and the 50 hourly simple moving average. The pair even climbed above the 0.9900 resistance zone. A high was formed near 0.9998 on FXOpen and the pair is now correcting lower...More info: blog FXOpen
