EUR/USD is stable above the 1.0600 support zone. USD/JPY could gain bullish momentum if there is a clear move above the 135.00 resistance.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a downside correction from the 1.0670 resistance zone.
· There is a key bullish trend line forming with support near 1.0635 on the hourly chart of EUR/USD.
· USD/JPY is attempting a recovery wave from the 130.60 support zone.
· Earlier, there was a break below a rising channel with support near 135.00 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro found support near the 1.0570 zone against the US Dollar. The EUR/USD pair started a steady upward move above the 1.0600 and 1.0620 resistance levels.
There was a clear increase above the 1.0650 resistance zone and the 50 hourly simple moving average. The pair even climbed towards the 1.0670 resistance zone. A high was formed near 1.0669 on FXOpen and the pair is now correcting gains…..More info: blog FXOpen