News

EUR/JPY New York Price Forecast: Euro bounces from 2020 lows, challenges 119.50 level

  • EUR/JPY is having a reversal up from four-month lows. 
  • The level to beat for bulls is the 119.50 support.
 

EUR/JPY daily chart

 
EUR/JPY is bouncing from four-month lows while trading above the 119.00 level and below the main daily simple moving averages (SMAs).
 

EUR/JPY four-hour chart

 
The quote rebounded from the 2020 lows and is now challenging the 119.50 resistance and the 50 SMA on the four-hour chart. Bulls had quite a reversal and the pullback up could accelerate if it finds acceptance above the 119.50 resistance level. A retracement down could find support near the 119.00 and 118.51 support, according to the Technical Confluences Indicator.    
 
 
Resistance: 119.50, 119.95, 119.73
Support: 119.00, 118.51, 117.87 
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.