EUR/JPY Technical Analysis: Recovery now targets the 55-day SMA at 118.75

FX Street

Updated: 1 Oct. 2019 | 09:47

EUR/JPY has so far reversed Monday’s pullback and it has now resumed the upside on the back of renewed JPY-selling.
If the buying pressure gathers extra pace, the 55-day SMA at 118.75 emerges as the next key target ahead of September highs in the 120.00 neighbourhood.
On the broader view, while the resistance line at 118.98 caps the upside, the bearish view remains intact.

EUR/JPY daily chart

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