EURJPY updates on 31 Oct 2017

Hourly chart shows that the EURJPY fell below 131.80 failed to further expand the decline, the current rebound is testing the downtrend (blue line) and show signs of breakthrough, short-term concern can effectively break the trend line. It may further rebound to point 132.20 (0.236 fibo) and 132.70 (0.382 fibo) level. On the contrary, if you can not break through the resistance, it will face the risk of recovery down.

One concern is that market news from EU and U.S this week. As we have our bearish EURUSD target previously.

Read: EURUSD price expectation under political event - Catalonia Independence

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