OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/JPY Price Analysis: Rising odds for further rangebound

  • Weekly rebound in EUR/JP met resistance around the 119.00 mark.
  • Broader side-lined theme expected to prevail for the time being.

After printing multi-week lows near 116.50 last week, EUR/JPY managed to regain some composure and tested the 119.00 neighbourhood, where some solid barrier turned up.

Interim target on the upside emerges at the 55-day SMA at 119.36 ahead of the more relevant 200-day SMA in the 119.8/85 band.

In the meantime, the current price action remains part of the broader consolidative range between 116.00 and 121.50.

EUR/JPY daily chart

 

South Korea: Rate cut delayed, not denied – ANZ

The Bank of Korea (BoK) paused amidst a divided consensus to take stock of the numerous policy measures implemented last month, economists at ANZ Bank
Read more Previous

US: The horror version – Rabobank

While the outlook for 2020 remains sketchy, heavily dependent on non-economic factors, economists at Rabobank expect the US GDP to fall by 6% in 2020.
Read more Next
Start livechat