Home EUR/JPY Technical Analysis: Recovery could extend to the mid-121.00s near term

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EUR/JPY Technical Analysis: Recovery could extend to the mid-121.00s near term

FX Street

Published date: 4 Nov. 2019 | 11:57

EUR/JPY continues to rebound from recent lows in the 120.30 region and it is now flirting with fresh tops in the 121.00 neighbourhood.
The next target on the upside emerges at the mid-121.00s, where sit October’s peaks. Further north is located the critical 200-day SMA just above 122.00 the figure.
On the other hand, the 120.30 region is expected to hold occasional bearish attempts. This area of contention is reinforced by the 21-day SMA at 120.12 ahead of the 100-day SMA at 119.65.

EUR/JPY daily chart

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