FX.co ★ EUR/JPY: downside reversal

EUR/JPY Downside Continuation!

As you can see on the H1 chart, the rate dropped below the uptrend line signaling that the upside movement ended and that the sellers could take the lead. Now, it has dropped also below the 144.17 former low. This level represented a downside obstacle. As long as it stays under this level, EUR/JPY could approach and reach new lows.

EUR/JPY Trading Conclusion!

Breaking below the 144.17 downside obstacle, EUR/JPY signaled more declines. This was seen as a selling opportunity. Now, today's low of 143.27 stands as a downside obstacle. Dropping below it activates a downside continuation.