- Analytics
- News and Tools
- Market News
- EUR/JPY Price Analysis: Recovery seen short lived
EUR/JPY Price Analysis: Recovery seen short lived
- EUR/JPY resumed the downside following Wednesday’s advance.
- A drop to the 2022 low near 127.30 remains likely.
EUR/JPY partially fades the strong gains recorded on Wednesday and comes under selling pressure after failing to move further north of the 128.50 area.
Further losses in EUR/JPY remain in the pipeline, with a potential visit to the so far 2022 low at 127.29 (March 2) in the short-term horizon. Further south the cross is expected to target the February 2021 low at 126.10 (February 4) ahead of 125.59 (January 27 2021 low). The loss of the latter should open the door to a visit of the 2021 low at 125.08 (January 18).
In the longer term, the outlook for the cross is seen as negative while below the 200-day SMA, today at 130.25.
EUR/JPY daily
© 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
