Cracks trend line and 50% retracement. EURJPY also surging
The EURUSD has now moved above the topside trend line and 50% retracement of the move down from the November 27th high at at 1.1834 and 1.18389 respectively. The door is open for further gains with the high from last week at 1.18622 and the 61.8% at 1.18676 the next targets.
Meanwhile, the EURJPY is racing to new highs too. It has taking out highs from last week at 133.873. That was near a high from November 15th too. The high just reached 133.91, but is backing off a little against the level.
The pair earlier in the session moved above MAs, and trend lines on the way to the upside (see chart below). Overall, the pair remains in a trading range that peaked at 134.49 on October 25th. The low stalled around 131.16 on November 20.
