EUR/JPY Price Analysis: Upside faltered around 122.00
|- EUR/JPY move up met initial hurdle at the 122.00 area.
- Further up emerges the 2020 high at 124.43 (June 5).
EUR/JPY failed to extend the bullish attempt further north of the 122.00 mark on Monday, sparking the ongoing knee-jerk.
If the buying interest picks up pace, then the yearly tops in the 124.40 region should emerge on the horizon.
As long as the 200-day SMA at 119.65 holds the downside, the outlook on the cross is seen as constructive. This contention area is also reinforced by June’s lows in the 119.30 region.
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.