EUR/JPY Technical Analysis: Daily gains lost momentum near 119.00

FX Street

Updated: 15 Aug. 2019 | 11:52

EUR/JPY attempted a move higher during early trade, although the attempt lacked of follow through and faltered around the 119.00 mark.
In the very near term, occasional bull runs are expected to meet strong resistance in the 119.70 region, where coincide recent peaks and the 21-day SMA.
On the broader view, as long as the 121.05/20 band caps the upside, the negative outlook is set persist. In this area converge the 55-day SMA and the 4-month resistance line.

EUR/JPY daily chart

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