Home EUR/JPY Technical Analysis: Upside flirts with the 21-day SMA near 122.40 and the support line

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EUR/JPY Technical Analysis: Upside flirts with the 21-day SMA near 122.40 and the support line

FX Street

Published date: 7 Jun. 2019 | 09:42

The weekly upside in EUR/JPY appears to have met an important resistance in the 122.40 region, coincident with the 21-day SMA.
The cross is now eroding the key short-term resistance line off April’s high and it ideally needs to clear this region in order to mitigate immediate downside pressure.
Further up emerges the next hurdle of note at 123.75 (high May 21) ahead of the 55-day SMA in levels just shy of 124.00 the figure.

EUR/JPY daily chart

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