Home EUR/JPY Technical Analysis: Remains sidelined around the 10-day SMA near 118.30
FXStreet News

EUR/JPY Technical Analysis: Remains sidelined around the 10-day SMA near 118.30

FX Street
Updated:
  • EUR/JPY is prolonging the erratic price action so far this week and it is now fading yesterday’s pullback in tandem with increasing selling pressure around the Japanese safe haven.
  • The resumption of the selling bias carries the potential to drag the cross to another visit to 2019 lows in the mid-117.00s (August 12) ahead of the 2017 low at 114.85. This view is expected to remain well on the cards while below the immediate resistance line at 119.92.
  • On the way up, interim hurdle emerges at the 21-day SMA at 119.13 ahead of last week’s tops in the 119.60 region.

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