EUR/JPY Price Analysis: A test of the mid-119.00s stays on the cards
|- EUR/JPY is bouncing off recent lows in the vicinity of 120.00.
- A move to the 200-day SMA in the mid-119.00s appears likely.
After testing the 120.20 region during early trade, EUR/JPY has managed to regain poise and it has now trading back above the 121.00 mark.
The rebound follows the better tone in the risk appetite trends and further recovery should target the 2020 highs well above 124.00 the figure.
If sellers regain control, a potential visit to the 200-day SMA in the vicinity of 119.50 should not be ruled out.
EUR/JPY daily chart
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.