Home EUR/JPY Technical Analysis: Initial hurdle emerges in the 121.40 region, recent tops and 21-day SMA
FXStreet News

EUR/JPY Technical Analysis: Initial hurdle emerges in the 121.40 region, recent tops and 21-day SMA

  • EUR/JPY keeps correcting lower after last week’s bullish attempt to the 121.40 region, coincident with the 21-day SMA.
  • The continuation of the down move carries the potential to re-visit monthly lows in the vicinity of the key 120.00 handle.
  • As long as the short-term resistance line at 122.03 caps the upside, the negative bias on the cross is expected to prevail. This area of resistance is also reinforced by the 55-day SMA at 121.91.

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.