EUR/JPY Technical Analysis: Downside pressure alleviated above 126.92

FX Street

Published date: 29 Mar. 2019 | 09:42

EUR/JPY seems to be stabilizing around the 124.00 handle so far this week following last Friday’s deep pullback.
The stance around the cross remains negative while the short-term resistance line, today at 126.92, caps the upside. The cross needs to surpass this area to mitigate the downside pressure.
In case the selling impetus resumes, the next target will be yesterday’s low at 123.65 ahead of mid-January low at 123.39.

EUR/JPY daily chart

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