Home EUR/JPY Technical Analysis: The cross faces strong resistance in the 126.70/80 band

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EUR/JPY Technical Analysis: The cross faces strong resistance in the 126.70/80 band

FX Street

Updated: 22 Apr. 2019 | 08:57

EUR/JPY is prolonging the sideline theme in the lower end of the recent range following last week’s sell off to the 125.60 region.
On the upside, the cross needs to overcome recent peaks in the 126.80 area. This region of resistance appears reinforced by the short-term resistance line, today at 126.73.
Above this zone, the downside pressure should be alleviated, opening the door at the same time for a potential test of 2019 highs in the mid-127.00s.

EUR/JPY daily chart

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