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5 Feb 2020

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

 

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