The selling mood around the common European currency is putting the EURJPY pair under additional pressure around the 119.20 level.

The cross is extending the negative beginning of the week and is continuing the move lower subsequent to being declined from the critical resistance barrier at 120.00 the figure. This significant barrier is additionally strengthened by the closeness of the 100-day Simple Moving Average in the 119.80 region.

The growing buying enthusiasm around the JPY has been likewise weighing on the cross today disregarding the consolidative mood from the key US 10-year note around the 1.70% region.

Meanwhile, traders continue looking to advancements from the US-Sino trade talks, following a recent partial agreement in Washington.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.