- Analytics
- News and Tools
- Market News
- EUR/JPY Price Analysis: Extra range bound on the cards
EUR/JPY Price Analysis: Extra range bound on the cards
- EUR/JPY fades the initial bull run to 137.60 on Monday.
- The cross could face some consolidative action in the near term.
EUR/JPY could not sustain the earlier spike to the 137.60 region at the beginning of the week.
The cross could move into a consolidative phase in the very near term ahead of the potential continuation of the uptrend. Against that, the immediate hurdle still emerges at the 2022 high around 140.00 (April 21). If cleared, the cross should then focus on the June 2015 high at 141.05. Beyond this level, there are no hurdles of note until the 2014 top at 149.78 (December 2014).
In the meantime, while above the 200-day SMA at 130.72, 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
