Home EUR/JPY Technical Analysis: Upside remains capped by the 55-day SMA at 122.45

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EUR/JPY Technical Analysis: Upside remains capped by the 55-day SMA at 122.45

FX Street

Published date: 15 Jul. 2019 | 09:38

EUR/JPY is rebounding from recent lows in the mid-121.00s on a better mood around the risk-associated space.
Extra gains in the cross remain limited by the 55-day SMA at 122.45 for the time being. Above this area the downside pressure should mitigate somewhat and could motivate the cross to test of the 123.00 zone and above. Further up emerges July top at 123.35.
In the meantime, the bearish outlook on the cross remains intact below the short-term resistance line, today at 122.69.

EUR/JPY daily chart

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