EUR/JPY Price Analysis: Interim hurdle emerges near 130.30
|- EUR/JPY extends the recovery for the third session in a row.
- There is a minor resistance at the Fibo level near 130.30.
EUR/JPY adds to the recent gains and retakes the psychological 130.00 mark and a tad above on turnaround Tuesday.
Further upside in the cross is seen meeting the next interim hurdle at the Fibo level (of the June-August drop) at 130.29. The surpass of this area should open the door to another visit to monthly peaks around 130.70.
If sellers regain the upper hand, then the focus of attention should shift to the 200-day SMA, today at 129.51. The loss of this area should change the short-term outlook to neutral/bearish from constructive.
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.