The Euro has taken a hit along with the GBP from the recent UK-EU Referendum and this has weakened the EUR. Consequently, the YEN is a safe-haven and has been strengthening in recent months.
The weekly/daily pivot shown together has nearly been hit (Note: when a daily/weekly/monthly pivot are the same this is usually a good magnet for price to hit or use as S/R).
I expect price to soon resume the impending downtrend and for this pair head to 100.00 for before making a big retracement.
For more information, please either follow me on here, twitter or at www.ejfxtrading.com
The weekly/daily pivot shown together has nearly been hit (Note: when a daily/weekly/monthly pivot are the same this is usually a good magnet for price to hit or use as S/R).
I expect price to soon resume the impending downtrend and for this pair head to 100.00 for before making a big retracement.
For more information, please either follow me on here, twitter or at www.ejfxtrading.com
