EUR/JPY: Bounces towards 123.60

Fiona Cincotta

3 years ago

EUR/JPY rebounds off multi-week lows at 121.60.
100-day SMA at 123.60 moves into target.
EUR/JPY rallies hard past the key 122.00 resistance in risk-on trade

The continuation of this uptrend sees resistance at the 100-day SMA in the 123.60 before 124.30, the 55-day SMA.

EUR/JPY trades above the 200-day SMA at 121.15 keeping the outlook upbeat.