- Analytics
- News and Tools
- Market News
- EUR/JPY Price Analysis: Extra gains look likely
EUR/JPY Price Analysis: Extra gains look likely
- EUR/JPY fades Monday’s downtick and regains 131.00.
- Next to the upside comes 131.15 ahead of 131.41.
EUR/JPY quickly leaves behind the daily pullback recorded at the beginning of the week and now refocuses the attention to the 131.00 yardstick and above.
The recent breakout of the critical 200-day SMA (130.50) should prop up extra gains in the cross in the short-term horizon. That said, bulls now face the next minor barrier at the Fibo level (of the October-December drop) at 131.15 just before the 131.41 level (November 10) and then another Fibo retracement at 132.17.
While above the 200-day SMA, the outlook for EUR/JPY should point to extra gains.
EUR/JPY daily chart
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
