OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/JPY Price Analysis: Recovery eyes the 200-day SMA

  • EUR/JPY adds to Tuesday’s bounce off the 119.60 area.
  • Further upside now targets the critical 200-day SMA at 120.50.

EUR/JPY is prolonging the recovery after dropping and printing fresh 2020 lows in the 119.60/55 band on Tuesday.

Further upside should now focus on the key 200-day SMA in the mid-120.00s ahead of the February top at 120.65.

Above the 200-day SMA the outlook on the cross is expected to shift to positive (from bearish).

EUR/JPY daily chart

 

USD/CNH now moved into a consolidation phase – UOB

In opinion of FX Strategists at UOB Group, USD/CNH faces the likeliness of extra consolidation in the near-term. Key Quotes 24-hour view: “We highligh
Read more Previous

China to enhance strength of macro policy adjustment

China's Communist Party's standing committee has said that they will enhance the strength of the macro policy adjustment and will continue to implemen
Read more Next
Start livechat