EUR/JPY Technical Analysis: the 200-day SMA above 121.00 remains key
|- EUR/JPY met some interesting resistance in the 10-day SMA near 121.50.
- The continuation of the move up should target the mid-122.00s, recent tops.
EUR/JPY is giving away part of Monday’s moderate advance, although a clear breakout of the key 200-day SMA just above the 121.00 handle still remains elusive.
So far, the weekly recovery appears capped by the mid-121.00s, where sits the 10-day SMA. A sustainable breakout of weekly tops should open the door to further upside and along with a potential test of recent tops in the 122.50/65 band.
Further north aligns the peaks recorded during last summer in the 123.30 zone.
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.