Home EUR/JPY Price Analysis: Upside still capped by the 55-day SMA

EUR/JPY Price Analysis: Upside still capped by the 55-day SMA

Updated: 6 Feb. 2020 | 12:17

Upside in EUR/JPY lost momentum above 121.00.
Further up aligns the 21-day SMA at 121.27.

Levels just above the 121.00 mark, home of the 55-day SMA, continue to limit occasional bullish attempts in EUR/JPY.

Above this area comes in the 21-day SMA at 121.25. If the buying pressure gathers steam, then there are no relevant resistance levels until 2020 highs in the 122.85/90 band. (January 16^th).

Looking at the broader view, while above the 200-day SMA, today at 120.59, the cross should keep the positive stance in the short-term horizon.

EUR/JPY daily chart

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.