EUR/JPY Technical Analysis: Upside still capped by the 125.60 region

FX Street

Published date: 11 Apr. 2019 | 09:32

EUR/JPY is extending the consolidative stance in the upper end of the weekly range, with gains so far capped by peaks in the 125.60 region.
A breakout of this pattern should put back on the radar the 100-day SMA at 125.89 ahead of the key short-term resistance line, today at 126.07. The cross needs to leave behind this area of resistance to alleviate the downside pressure.
Further north, the next hurdle emerges at the 2019 highs in the 127.50 region.

EUR/JPY daily chart

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