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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

 

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