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  • EUR/JPY recedes from fresh 2020 highs in the area just above 127.00.
  • Further north emerges the March 2019 high in the mid-127.00s.

EUR/JPY is adding to Monday’s losses, shedding further ground and returning to the 1260 neighbourhood on the back of renewed and moderate selling bias around the European currency.

A surpass of the 2020 peaks just beyond 127.00 the figure (September 1) should pave the way for a move to March 2019 highs around 127.50.

The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day SMA at 120.57.

EUR/JPY weekly chart

 

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