Home EUR EUR/JPY Technical Analysis: Upside Risk to Persist, Eyeing 2020 Highs

EUR/JPY Technical Analysis: Upside Risk to Persist, Eyeing 2020 Highs

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11th August 2020

EUR/JPY bounces to retest the big psychological number 125.00
The current bullish run can target 2020 high confined within the upper band 125.60 and lower band 125.55

The EUR/JPY inches higher, reversing Monday’s losses in an attempt to challenge again the big round number 125.00.

As long as the pair manages to hold the ground above the key 200-day SMA at 120.13, the bullish bias remains intact. On the upside, a firm break above 125.00 will expose the 2020 high near 125.60 followed by March 2019 high around 127.00s.

If the bears manage to overcome the bulls, there is a danger for the EUR/JPY exchange rate to fall near the monthly lows around the 124.00 figure.

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Currencylive.com is a site operated by Wise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.