OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY Price Analysis: Further upside targets 121.27, the 21-day SMA

  • Upside in EUR/JPY lost momentum above 121.00.
  • Further up aligns the 21-day SMA at 121.27.

EUR/JPY has accelerated the upside after surpassing the key 200-day SMA in the 120.60 region on Tuesday, breaking above the multi-session side-lined trade at the same time.

Interim resistance emerges at the 55-day SMA just above 121.00 the figure. Further up emerges the next target of relevance near 121.30, home of the 21-day SMA.

Looking at the broader view, while above the 200-day SMA the cross should keep the near-term positive stance.

EUR/JPY daily chart


ECB's Lagarde: Forward guidance on rates and APP acts as an effective stabiliser

The forward guidance on interest rates and asset purchases act as an "effective automatic stabiliser," European Central Bank President Christine Lagar
Read more Previous

ECB's Lane: With recovery, maximum achievable interest rate might be 2-3%

"Low interest rates are helping Germany get through the period of slower growth," European Central Bank's (ECB) chief economist Philip Lane argued on
Read more Next
Start livechat