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EUR/USD recovers while EUR/JPY, USD/JPY surge higher

EUR/USD recovers while EUR/JPY, USD/JPY surge higher​ as BoJ states that it may delay future rate hikes.

Forex pairs Source: Adobe images

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:

​​​EUR/USD is expected to recover 

EUR/USD is expected to recover from its mid-April low at $1.1265 and head back up towards last week's $1.1425 high and the 11 April high at $1.1473. 

​Below $1.1265 lies the March-to-May uptrend line at $1.1189 which may offer support. 

​​EUR/USD daily chart

EUR/USD chart Source: TradingView

​EUR/JPY probes key resistance 

EUR/JPY is flirting with its December and January peaks at ¥164.54-to-¥164.90 which represent key resistance.  

​The ¥164.18 early and ¥163.75 late April highs may offer short-term support. 

EUR/JPY daily chart

EUR/JPY chart Source: TradingView

​​USD/JPY rallies 

​USD/JPY is trading in two-week highs whilst approaching the 55-day simple moving average (SMA) at ¥147.19. 

​Minor support may now be found around the 4 April low at ¥144.55 and then at the 25 April high at ¥144.03.​​ 

USD/JPY daily chart

USD/JPY chart Source: TradingView

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