EUR/JPY Price Analysis: Extra gains look likely near term
- EUR/JPY extends the upside for the third session in a row.
- The surpass of YTD high should allow for further upside.
EUR/JPY’s upside momentum seems to have faltered just ahead of the 131.50 level on Thursday.
The persistent buying pressure could encourage the cross to attempt an assault to the 2022 high at 131.60 (January 5), just ahead of the Fibo level (of the October-December drop) at 132.17 and November’s peak at 132.53 (November 4).
While above the 200-day SMA, today at 130.54, the outlook for EUR/JPY should remain constructive.
EUR/JPY daily chart
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.