EUR/JPY Price Analysis: Downside pressure alleviated above the 200-day SMA
|- EUR/JPY manages to grab some upside traction above 139.00.
- Next on the upside for the cross appears the 200-day SMA.
EUR/JPY gathers some much needed steam and reclaims the 139.00 hurdle and beyond at the beginning of the week.
The recent pronounced correction in the cross seems to have met some contention around the 138.00 neighbourhood. If the rebound picks up a more sustainable pace, then the next target of note turns up at the key 200-day SMA, today at 140.68.
Above the latter, the selling bias is expected to mitigate and could shift the outlook to a more constructive one.
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.