- Analytics
- News and Tools
- Market News
- EUR/JPY Price Analysis: Corrective downside could test 131.60
EUR/JPY Price Analysis: Corrective downside could test 131.60
- EUR/JPY retreats from Thursday’s new YTD highs past 133.00.
- Sellers might drag the cross to as low as the 131.60 area.
EUR/JPY partially reverses the recent advance to fresh tops further north of the 133.00 barrier (February 10).
Considering the recent price action, the ongoing corrective decline carries the potential to extend to the monthly high at 131.60 (January 5), which should offer initial contention. If breached, then the focus of attention should gyrate to a probable visit to the always relevant 200-day SMA, today at 130.47.
In the longer run, and while above the 200-day SMA, the outlook for the cross is expected to remain constructive.
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
