fxs_header_sponsor_anchor

News

EUR/JPY Price Analysis: Upside stalled just ahead of the 200-day SMA

  • EUR/JPY trims gains after testing the key 200-day SMA near 120.30.
  • The cross remains volatile and keeps looking to risk trends for direction.

Volatility has picked up around EUR/JPY on Monday, always looking to developments from the Chinese coronavirus for near-term direction.

The daily price action saw a test of the boundaries of the 120.30 region, where sits the 200-day SMA, and the proximity of 118.50, area close to the 2020 lows recorded on Friday.

While the cross keeps waiting for a stronger catalyst for price direction, further consolidation should not be ruled out, likely between 121.50 and 118.50.

EUR/JPY daily chart

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.