Pair’s retreat from the high of 1.1213 followed by a drop in Asia suggests bears remain in control and a larger retreat from the high of 1.1366 (Aug 18 high) may have resumed.
However, the hourly RSI has hit the overbought territory, plus rise in EUR/JPY cross and caution ahead of FOMC rate decision could ensure the support at 1.1120 remains intact.
However, the hourly RSI has hit the overbought territory, plus rise in EUR/JPY cross and caution ahead of FOMC rate decision could ensure the support at 1.1120 remains intact.
