EUR/JPY Price Analysis: Scope for a move to 2022 high
|- EUR/JPY faces some selling pressure around 131.90.
- Extra gains look on the cards with the target at the YTD peak.
EUR/JPY looks offered after hitting fresh monthly highs in the 131.90 region on Friday.
The cross gathered extra upside traction following the recent breakout of the 200-day SMA (129.98). The surpass of the 131.90 area could likely allow EUR/JPY to attempt an assault of the 2022 top at 133.15 (February 10).
In the meantime, while above the 200-day SMA, 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.