The rally in EUR/JPY appears to have met important resistance in the 121.50 region, coincident with late July peaks. The ongoing correction lower comes in line with softness in EUR, some pick up in the demand for safe havens and recent overbought levels, as measured by the RSI. The continuation of the leg lower should meet initial support in the 100-day SMA in the 119.80 region ahead of the 55-day SMA, today at 118.43. The resumption of the up move is expected to target the key 200-day SMA at 122.23. 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. View All Post By FX Street FXStreet News share Read Next US Dollar Index Technical Analysis: Looks constructive above the 200-day SMA FX Street 3 years The rally in EUR/JPY appears to have met important resistance in the 121.50 region, coincident with late July peaks. The ongoing correction lower comes in line with softness in EUR, some pick up in the demand for safe havens and recent overbought levels, as measured by the RSI. The continuation of the leg lower should meet initial support in the 100-day SMA in the 119.80 region ahead of the 55-day SMA, today at 118.43. The resumption of the up move is expected to target the key 200-day SMA at 122.23. EUR/JPY daily chart Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
