EUR/JPY Technical Analysis: Correction higher now targets 123.00 and above

FX Street

Published date: 24 Jun. 2019 | 10:47

EUR/JPY surpassed the 10- day and 21-day SMA and appears to be heading further north on the back of the rally in the European currency.
Immediately to the upside emerge June’s peaks near 123.20 ahead of the 55-day SMA at 123.43 and 123.75 (high May 21).
Ideally, EUR/JPY needs to clear the short-term resistance line at 122.36 in order to alleviate the current downside pressure.

EUR/JPY daily chart

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