Home EUR/JPY Price Analysis: Extra upside should visit the 123.00 area

EUR/JPY Price Analysis: Extra upside should visit the 123.00 area

Published date: 14 Jan. 2020 | 11:22

The upside momentum in EUR/JPY run out of steam near 122.80 on Tuesday.
The rally now targets the 123.00 level and above.

The rising optimism in the risk-complex ahead of the sign of the US-China’s ‘Phase One’ deal has been the main source of upside pressure in EUR/JPY in past sessions.

The cross has quickly left behind the key hurdle at 122.00 the figure and advanced to the 122.75/80 band earlier today, where it met some strong resistance.

Further upside emerges the 123.309 area, July 2019 highs.

EUR/JPY daily chart

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.