EUR/JPY Technical Analysis: The 10-day SMA above 118.00 caps the upside so far
|- EUR/JPY is extending the choppy trade seen in past sessions, although a sustainable breakout of the 118.00 barrier still looks elusive.
- A break above the current consolidation should expose the immediate target at 119.01, where sits the 21-day SMA, ahead of 119.58 (high August 13).
- Looking at the broader picture, while below the 55-day SMA at 120.72 the bearish view is expected to remain unchanged. This area is also reinforced by the multi-month resistance line at 120.88.
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.