Home EUR/JPY Technical Analysis: Next target remains at 121.50

EUR/JPY Technical Analysis: Next target remains at 121.50

Published date: 29 Nov. 2019 | 09:52

EUR/JPY remains bid in the upper end of the weekly range.
Attention stays on the mid-121.00s, October highs.

EUR/JPY keeps navigating the area of recent peaks in the 120.60.70 band amidst the continuation of the selling pressure in the safe haven JPY.

Further upside is seen re-visiting October peaks in the mid-121.00s ahead of the critical 200-day SMA in the 121.60 region.

In case sellers return to the market, the 119.64/24 band should come back to the fore, where coincide the 55-day and 100-day SMAs along with monthly lows.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.