EUR/JPY is prolonging the rangebound theme above 123.00. The key support area around 122.90 holds the downside so far. EUR/JPY now seems to have entered into a consolidative phase around the mid-123.00s in the unchanged context of firm JPY-buying and despite the constructive view on the single currency. Extra upside momentum remains well on the cards in spite of the ongoing consolidation and is expected to target the 2020 peaks beyond the 124.00 mark in the short-term horizon. If sellers regain the upper hand, then the leg lower could test the short-term support line, today around 121.30. As long as EURJPY trades above the 200-day SMA at 119.97, the positive outlook is expected to remain unchanged. EUR/JPY daily chart FX Street 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 Post By FX Street FXStreet News share Read Next Bitcoin Market Update: BTC/USD fails at a critical resistance, vulnerable to further losses FX Street 3 years EUR/JPY is prolonging the rangebound theme above 123.00. The key support area around 122.90 holds the downside so far. EUR/JPY now seems to have entered into a consolidative phase around the mid-123.00s in the unchanged context of firm JPY-buying and despite the constructive view on the single currency. Extra upside momentum remains well on the cards in spite of the ongoing consolidation and is expected to target the 2020 peaks beyond the 124.00 mark in the short-term horizon. If sellers regain the upper hand, then the leg lower could test the short-term support line, today around 121.30. As long as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
