EUR/JPY trades in one-month highs and targets 122.88 – Commerzbank
|EUR/JPY is trading in one-month highs, currently at 122.30, up 0.06% on a day. The pair has the 122.88 January high in its sights and is underpinned by 120.66 and 120.28, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, informs.
Key quotes
“EUR/JPY is trading in one-month highs and has the January high at 122.88 in its sights.”
“We will retain our bullish outlook while three-month support line at 120.66 and the current July low at 120.28 underpin.”
“We are still looking for the cross to rise further and expect the 200-week moving average at 124.70 to eventually be revisited. It guards the 2014- 2020 resistance line at 128.15.”
“Below 120.28 the 200 and 55-day moving averages as well as the June low can be spotted at 119.81/119.31.”
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.