Home EUR/JPY Price Analysis: Rebound now targets the 2020 high around 127.00
FXStreet News

EUR/JPY Price Analysis: Rebound now targets the 2020 high around 127.00

FX Street
Updated:
  • EUR/JPY extends the rebound from lows in the 124.40 region (Wednesday).
  • Immediately to the upside is located the YTD peaks just above 127.00.

EUR/JPY met decent contention in the 124.40 region on Wednesday and sparked the ongoing rebound to the 125.65/70 band ahead of the ECB event.

If the rebound picks up extra pace, then there is no relevant barrier until the 2020 highs in levels just beyond the 127.00 yardstick (September 1).

In the meantime, the positive bias in EUR/JPY is forecasted to remain unaltered as longs as the cross trades above the 200-day SMA at 120.72.

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.

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.

© forexcrunch.com All Rights Reserved 2017 – 2024