EURJPY – Daily Forex Technicals by ForexHound.com July 1st

EURJPY on the daily charts shows signs that a retest of the larger trendline connecting monthly highs is in place. This move has enough room to move at least 200 points if not more considering the build up in bearish momentum. Other than the technical aspect we should pay close attention to the way the YEn is performing overall considering the risk aversion in stocks and the fact that we have the ECB meeting this Thursday, both with significant impact on this pair. EURJPY on the daily charts shows signs that a retest of the larger trendline connecting monthly highs is in place. This move has enough room to move at least 200 points if not more considering the build up in bearish momentum. Other than the technical aspect we should pay close attention to the way the YEn is performing overall considering the risk aversion in stocks and the fact that we have the ECB meeting this Thursday, both with significant impact on this pair.

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