EUR/JPY Technical Analysis: The up move could extend to the 123.80 region

FX Street

Published date: 10 Jun. 2019 | 10:02

EUR/JPY is seeing some correction from recent peaks, failing just ahead of 123.00 the figure during early trade.
The ongoing up move in the cross carries the potential to extend to late-March peaks in the 123.75/80 band. This area of resistance is also reinforced by the key 55-day SMA at 123.95.
Looking at the broader picture, the outlook on the cross remains unchanged while below the multi-month resistance line at 125.23.

EUR/JPY daily chart

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