- EUR/JPY is prolonging the consolidative theme after the recent breakdown of the 129.00 handle, with some decent contention emerging in the mid-128.00s for the time being.
- The 129.00 neighbourhood, or late July lows, is now considered the interim resistance in case the bullish sentiment returns to the cross. Further out, the cross needs to regain the 130.40 area (June’s highs) in order to allow for a potential visit to the 200-day SMA, today at 131.67.
- In case the bearish view intensifies, sellers should meet the next support in the 126.60 region, or June’s lows. If cleared, YTD lows at 124.61 seen in late May should return to the investors’ radar.
EUR/JPY daily chart
Daily high: 129.06
Daily low: 128.49
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 securities. 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 Forex 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.