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5 Dec 2019
EUR/JPY Technical Analysis: Recovery now targets the 121.50 region
- EUR/JPY resumes the upside and eyes the mid-121.00s.
- This area of resistance is reinforced by the 200-day SMA.
EUR/JPY is prolonging the rebound for the second session in a row and is approaching the key barrier at 121.00 the figure.
Further upside pressure should lift the cross to the key hurdle in the 121.50 region, where sit October and November tops and the critical 200-day SMA.
On the other hand, if the selling bias returns to the markets, then the focus of attention should shift to the 119.70, where coincide the 55-day SMA and November 25th low.
