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EUR/JPY Technical Analysis: Correction higher now targets 123.00 and above

2019-06-24 16:50

  • EUR/JPY surpassed the 10- day and 21-day SMA and appears to be heading further north on the back of the rally in the European currency.

  • Immediately to the upside emerge June’s peaks near 123.20 ahead of the 55-day SMA at 123.43 and 123.75 (high May 21).

  • Ideally, EUR/JPY needs to clear the short-term resistance line at 122.36 in order to alleviate the current downside pressure.



EUR/JPY daily chart







 


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