Home EUR/JPY Technical Analysis: Further consolidation expected near term. The 125.50 area keeps capping the upside

EUR/JPY Technical Analysis: Further consolidation expected near term. The 125.50 area keeps capping the upside

Published date: 8 Apr. 2019 | 10:17

EUR/JPY is prolonging the sideline trading at the beginning of the week, so far managing well to keep the trade above the 125.00 handle.
The cross needs to surpass recent highs in the mid-125.00s to allow for the continuation of the up move to the 100-day SMA at 125.98 ahead of late March peaks in the 126.80 region.
Further up, the cross needs to clear the key short-term resistance line, today at 126.22, to alleviate downside pressure.

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