EUR/JPY Price Analysis: Next on the upside comes the 55-day SMA
|- EUR/JPY extends the recovery to the vicinity of 138.00 on Monday.
- Further up now emerges the interim 55-day SMA around 139.50.
EUR/JPY remains on recovery-mode and already flirts with the 138.00 area at the beginning of the week.
Considering the ongoing price action, further upside in the cross appears likely for the time being. That said, the next temporary target aligns at the 55-day SMAs, today at 139.54.
While above the 200-day SMA at 133.79, the outlook for the cross is expected to remain 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.