EUR/JPY Rallies On Further Upside Pressure With Eyes On 120.20 Level

Forex Trades • Sep 12, 2019 at 11:00 PM EDT

On the downside, support resides at the 119.00 level where a break will aim at the 118.50 level.

EUR/JPY rallies on further upside pressure with eyes on 120.20 level. On the downside, support resides at the 119.00 level where a break will aim at the 118.50 level. A turn below here will turn focus to the 117.50 level and possibly lower towards the 117.00 level.

On the upside, resistance resides at the 120.00 level. Further out, we envisage a possible move towards the 120.50 level.

Further out, resistance resides at the 121.00 level with a turn above here aiming at the 121.50. Its daily RSI is bullish and pointing higher suggesting further upside pressure.

On the whole, EUR/JPY retains its corrective upside pressure as it looks for more gain.

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