OctaFX | OctaFX Forex Broker
Open trading account

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


China: Coronavirus will infect the Chinese economy – Nordea

Nordea’s analysts are predicting a big dive in Chinese GDP due to the effects of coronavirus. Meanwhile, the recent rate cut of the People’s Bank of C
Read more Previous

Australia: Weak December not worrying – TDS

Australia published data overnight regarding retail sales and trade balance which missed slightly market expectations, TD Securities reports. AUD/USD
Read more Next
Start livechat