EUR/JPY Price Analysis: Extra Gains Remain On The Table

EUR/JPY corrects lower after clinching new yearly tops in the vicinity of 130.70 on Wednesday.

The recovery remains healthy and a surpass of YTD peaks should put the 131.00 level back on the radar. While above the short-term support line in the 128.30 region, extra gains remain likely. This area of contention is reinforced by the proximity of the 50-day SMA at 128.61.

Coins, Banknotes, Money, Currency, Finance, Cash

Image Source: Pixabay

Further north of 131.00 comes in the 2018 high at 131.98 (July 17).

In the meantime, while above the 200-day SMA at 125.55 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart



Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.