USD/YEN Update – 16/08/2017 (12:30pm) – by Arjun Lakhanpal
August 16, 2017USD/YEN Update – 16/08/2017 (12:30pm): EUR on the charts.. Yesterday EUR/USD retested the August 9 low at 1.1689, a fall below which is expected to be seen as long as the recent high at 1.1848 caps. In this case the 1.1612/1.1565 area will be targeted. It is where the late July low meets the five month support line. While remaining above here, there is scope for further gains, though. Resistance above the 1.1910 recent high lies at 1.2042, the 2012 low, and also at 1.2168, the 50% retracement from the move down from the 2014 high.
