EUR/USD is correcting higher from the 1.0520 zone. USD/JPY is also rising and might rally further above the 137.00 resistance.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started an upside correction above the 1.0550 resistance zone.
· There was a break above a key bearish trend line with resistance near 1.0570 on the hourly chart of EUR/USD.
· USD/JPY is showing a lot of bullish signs above the 135.80 support zone.
· There is a major bullish trend line forming with support near 135.80 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro saw bearish moves below the 1.0600 support against the US Dollar. The EUR/USD pair even broke the 1.0580 support zone.
The pair gained pace below the 1.0550 support zone and traded as low as 1.0532 on FXOpen. The pair started an upside correction and traded above the 1.0550 resistance. There was a clear move above the 1.0580 level…More info: blog FXOpen