Home EUR/JPY Technical Analysis: extra consolidation looks likely in the near term

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EUR/JPY Technical Analysis: extra consolidation looks likely in the near term

FX Street

Published date: 29 Oct. 2019 | 10:42

EUR/JPY has eroded part of Monday’s advance and it has returned to sub-121.00 levels today and it is at the same time flirting with the 10-day SMA.
Immediately to the upside aligns the mid-121.00s, where are located recent tops. A breakout of this area of resistance should pave the way for a visit to the key 200-day SMA at 122.14.
The resumption of the selling bias should meet strong support in the 120.00 neighbourhood ahead of the 100-day SMA near 119.70.

EUR/JPY daily chart

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