Home EUR/JPY Price Analysis: A test of the mid-119.00s stays on the cards

EUR/JPY Price Analysis: A test of the mid-119.00s stays on the cards

Updated: 12 Jun. 2020 | 12:07

EUR/JPY is bouncing off recent lows in the vicinity of 120.00.
A move to the 200-day SMA in the mid-119.00s appears likely.

After testing the 120.20 region during early trade, EUR/JPY has managed to regain poise and it has now trading back above the 121.00 mark.

The rebound follows the better tone in the risk appetite trends and further recovery should target the 2020 highs well above 124.00 the figure.

If sellers regain control, a potential visit to the 200-day SMA in the vicinity of 119.50 should not be ruled out.

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.