Currently, EUR/JPY is trading at 116.88. The pair started a downtrend on 13 April and after touching its support zone , it is possible that it will rebound from here. If the price breaks neckline at 117.49, it may enter into a new uptrend and then its next resistance level at 118.05, will be its first target.
Do follow us for future Forex updates.
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.