Technicals:
-Respectable descending TL, pullback for a retest expected
-0.618 fib retracement
-Previous support now acting as resistance
-MA50 supporting the bearish trend very well with further downside expectancy
Fundamentals:
Investors started moving their money into "safe haven" currencies (such as the USD & JPY) due to the upcoming election, the fiscal stimulus talks, and the recent European lockdowns. With so much uncertainty across the board, the safest option we have is to continue shorting currency pairs trading against USD & JPY, hence one of the reasons for shorting EURJPY.
-Respectable descending TL, pullback for a retest expected
-0.618 fib retracement
-Previous support now acting as resistance
-MA50 supporting the bearish trend very well with further downside expectancy
Fundamentals:
Investors started moving their money into "safe haven" currencies (such as the USD & JPY) due to the upcoming election, the fiscal stimulus talks, and the recent European lockdowns. With so much uncertainty across the board, the safest option we have is to continue shorting currency pairs trading against USD & JPY, hence one of the reasons for shorting EURJPY.