Mon, Dec 05, 2022 @ 04:24 GMT

EUR/JPY Seeks Support

The euro weakened after the ECB minutes showed that a recession was “increasingly likely”. A break above 143.50 the origin of a previous liquidation has prompted sellers to cover their bets. This is an indication of strong interest in maintaining the euro’s lead. As the RSI drops back to the neutral area, the former supply zone around 141.40 is the first level to gauge follow-up bids. A bounce would carry the single currency to the recent peak at 145.50. Otherwise, the pair may drift towards 139.30.

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