EUR/JPY Technical Analysis: Upside remains capped by the mid-121.00s

FX Street

Published date: 6 Nov. 2019 | 09:58

EUR/JPY met strong resistance in the area of recent highs around 121.50 against the backdrop of increasing selling bias in both the single currency and the Japanese safe haven.
A convincing break above the mid-121.00s is needed to allow the cross to visit the 122.00 neighbourhood, where is located the critical 200-day SMA.
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 120.43.

EUR/JPY daily chart

FX Street

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