EUR/USD Near 2-Month Low; USD/JPY Up To 2019 Highs
Forex4you | Feb 11, 2019 12:33PM ET
The euro opened the week with declines as investors saw German bond yields and trade talks between China and the US.
Events sent the pair down, but a break below the 1.1300 area activated stop losses orders that pushed EUR/USD to trade as low as 1.1270, its lowest level since December 14.
Technically, EUR/USD tested the 1.1260 area three times in the past, but it resisted and the EUR/USD jumped back again. Will it happen again? Technical studies are suggesting more declines.
Below the 1.1260 area, next support is at 1.1200.
The GBP/USD is also falling as investors are disappointed with a mediocre GDP. The pair is testing February lows around 1.1255. Technical conditions are negative and market expects more declines in the short term.
USD/JPY is starting the week with a positive note as the Dollar is strong. The pair broke above the 110.15 area and it is now trading at 2019 highs near to 110.45. USD/JPY seems ready for more gains in the short term.
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