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6 Feb 2020
EUR/JPY Price Analysis: Upside still capped by the 55-day SMA
- Upside in EUR/JPY lost momentum above 121.00.
- Further up aligns the 21-day SMA at 121.27.
Levels just above the 121.00 mark, home of the 55-day SMA, continue to limit occasional bullish attempts in EUR/JPY.
Above this area comes in the 21-day SMA at 121.25. If the buying pressure gathers steam, then there are no relevant resistance levels until 2020 highs in the 122.85/90 band. (January 16th).
Looking at the broader view, while above the 200-day SMA, today at 120.59, the cross should keep the positive stance in the short-term horizon.
EUR/JPY daily chart
