EUR/JPY: Next target emerges at the 2020 highs

3 December, 2020

EUR/JPY surpassed the key barriers at 125.00 and 126.00. Further upside now targets the YTD highs around 127.00. EUR/JPY adds to the recent strong advance and breaks above the key resistance around 126.00 following Tuesday’s breakout of another important hurdle in the 125.00 neighbourhood.

If the buying pressure manages to gather further traction, then the 2020 peaks in the 127.00 zone (September 1) should return to the investors’ radar. Some correction, however, could be shaping up as the cross flirts with the overbought territory.

Looking at the broader picture, while above the 200-day SMA at 121.56 the outlook should remain constructive. The October’s low around 121.60 also reinforces this key contention zone.


Source   Presented by OctaFX
EURJPY bulls take a breather near 2-year high12 Jan, 2021  

EURJPY geared down after topping near the familiar 127.50 barrier from 2017 - 2018, but the 20-day simple moving average (SMA) slightly lower at 146.47...

EUR/JPY gains stall at multi-year highs just above 127.00 level7 Jan, 2021  

EUR/JPY managed to squeak out fresh multi-year highs around the 127.20 mark on Wednesday but has since slipped back under 127.00. The pair was lifted amid a risk-on...

EURJPY struggles to rekindle ascent past year peak29 Dec, 2020  

EURJPY is colliding with the upper boundary of the range at 127.06, finding it difficult to revive the hike. The rising 100- and 200-day simple moving averages...


EURJPY consolidates below 127.0022 Dec, 2020  

EURJPY is trading with weak directional bias over the last three weeks, while spiking towards the 18-month high of 127.10. The momentum indicators are pointing to a neutral...

EURJPY struggles below 18-month high15 Dec, 2020  

EURJPY is struggling to gain positive momentum after its fast run above the descending channel and the 125.07 barrier, stalling around the 126.70 resistance...

Extra consolidation in the pipeline10 Dec, 2020  

EUR/JPY remains side-lined around the 126.00 neighbourhood. Immediately to the upside emerges the 2020 highs just above 127.00. EUR/JPY's multi-session neutral...


EURJPY pauses near September's highs8 Dec, 2020  

EURJPY is struggling to gain positive momentum after its fast rebound stalled around 126.40 and within September's resistance region last week. The downside reversal...

EURJPY range bound; positive sentiment improves24 Nov, 2020  

EURJPY is currently trading between the 50- and 100-day simple moving averages (SMAs) after forming a fresh low at 122.83. The pair seems to be stuck between...

EURJPY shifts sideways as resistance ceiling blocks gains10 Nov, 2020  

EURJPY was overwhelmed by buying interest yesterday that thrusted the pair back above the 100- and 50-day simple moving averages (SMAs). Yet, advances...