News

EUR/JPY Price Analysis: Euro challenging December highs, approaching the 121.00 handle

  • EUR/JPY is rolling into Asia near the 120.85 resistance level. 
  • Support is seen at the 120.66 and 120.40 levels.
 

EUR/JPY daily chart

 
EUR/JPY is trading in a bear trend below the 200-day simple moving average (DMA). However, the spot has been correcting the October’s rally below the 121.00 handle in the last weeks of trading. 
 

EUR/JPY four-hour chart

 
Buyers broke above the 120.66 resistance and are now challenging the 120.85 level. The next big hurdle is likely going to be the 121.00 handle. If the bulls can break above it, the path of least resistance would probably be to the upside with investors potentially targetting the 121.35 and 121.55 levels, according to the Technical Confluences Indicator. 
    

EUR/JPY 30-minute chart

 
The bulls are in control above the main SMAs on the 30-minute chart. Support is seen at the 120.66 and 120.40 levels. 
 
 

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.