EUR/JPY Price Analysis: Recovery could extend to 120.44, the 200-day SMA
|- EUR/JPY is extending the bounce off 2020 lows near 118.80.
- The next target of relevance emerges at the 200-day SMA near 120.50.
EUR/JPY has regained some traction on the back of the improved sentiment surrounding the riskier assets at the beginning of the week.
If the recovery gains serious traction, then the key 200-day SMA, today at 120.44, should return to the investors’ radar in the near term.
Above the key 200-day SMA the cross is expected to accelerate gains towards monthly tops at 121.15 (February 5th).
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.