Home EUR/JPY Technical Analysis: Looks consolidative below 121.50 in the near term

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EUR/JPY Technical Analysis: Looks consolidative below 121.50 in the near term

FX Street

Updated: 25 Oct. 2019 | 12:12

EUR/JPY is now extending the sideline trading below recent tops in the 121.50 region on the back of alternating risk appetite trends.
Further buying impulse should meet the next relevant hurdle at recent tops in the mid-121.00s ahead of the more relevant 200-day SMA at 122.18.
The resumption of the selling bias should meet decent contention at late September peaks in the 120.00 neighbourhood. This area of support is reinforced by the proximity of the 100-day SMA at 119.73.

EUR/JPY daily chart

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