Search ForexCrunch
  • EUR/JPY’s recovery is picking up extra pace on Friday.
  • Immediately to the upside emerges the 200-day SMA at 1201.5.

Increasing selling pressure in the Japanese currency is lifting EUR/JPY to the vicinity of the 119.00 mark at the end of the week.

That said, the next target to the upside aligns at the 200-day SMA, today at 120.15 ahead of February’s peak in the 121.50 region.

Above the 200-day SMA, the downside pressure is expected to alleviate and allow for the continuation of the move up.

EUR/JPY daily chart

 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.