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EUR/USD and USD/JPY At Risk of Additional Losses
EUR/USD started another decline from the 1.0300 resistance. USD/JPY is declining and might continue to move down below 137.00.
Important Takeaways for EUR/USD and USD/JPY
EUR/USD Technical Analysis
This week, the Euro started a fresh decline from well above the 1.0280 level against the US Dollar. The EUR/USD pair declined below the 1.0250 and 1.0220 support levels.
The bears even pushed the pair below the 1.0200 level. There was a close below 1.0200 and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.0097 swing low to 1.0293 high.
EUR/USD Hourly Chart
Besides, there was a break below a key bullish trend line with support near 1.0205 on the hourly chart of EUR/USD. An immediate resistance on the upside is near the 1.0200 level.
The next major resistance is near the 1.0225 level and the 50 hourly simple moving average. An upside break above 1.0225 could set the pace for a steady increase. In the stated case, the pair might revisit 1.0280.
If not, the pair might drop and test the 1.0165 support. The next major support is near 1.0145 or the 76.4% Fib retracement level of the upward move from the 1.0097 swing low to 1.0293 high, below which the pair could drop to 1.0100 in the near term.
VIEW FULL ANALYSIS VISIT - FXOpen Blog
EUR/USD started another decline from the 1.0300 resistance. USD/JPY is declining and might continue to move down below 137.00.
Important Takeaways for EUR/USD and USD/JPY
- The Euro started a fresh decline and even traded below the 1.0200 support.
- There was a break below a key bullish trend line with support near 1.0205 on the hourly chart of EUR/USD.
- USD/JPY declined heavily from the 139.00 resistance zone.
- There was a break below a major bullish trend line with support near 136.30 on the hourly chart.
EUR/USD Technical Analysis
This week, the Euro started a fresh decline from well above the 1.0280 level against the US Dollar. The EUR/USD pair declined below the 1.0250 and 1.0220 support levels.
The bears even pushed the pair below the 1.0200 level. There was a close below 1.0200 and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.0097 swing low to 1.0293 high.
EUR/USD Hourly Chart
Besides, there was a break below a key bullish trend line with support near 1.0205 on the hourly chart of EUR/USD. An immediate resistance on the upside is near the 1.0200 level.
The next major resistance is near the 1.0225 level and the 50 hourly simple moving average. An upside break above 1.0225 could set the pace for a steady increase. In the stated case, the pair might revisit 1.0280.
If not, the pair might drop and test the 1.0165 support. The next major support is near 1.0145 or the 76.4% Fib retracement level of the upward move from the 1.0097 swing low to 1.0293 high, below which the pair could drop to 1.0100 in the near term.
VIEW FULL ANALYSIS VISIT - FXOpen Blog