EUR/JPY Price Analysis: Current pullback appears short-lived

EUR/JPY’s strong rebound met a tough barrier at the key resistance zone in the 125.00 neighbourhood on Tuesday. The surpass of this area, ideally in t  |  21/10/2020 10:14
  • EUR/JPY corrects lower after failing at the key hurdle around 125.00.
  • Further north of the 125.00 level comes in an interim barrier at 126.46.

EUR/JPY’s strong rebound met a tough barrier at the key resistance zone in the 125.00 neighbourhood on Tuesday.

The surpass of this area, ideally in the very near-term, should open the door to a test of the interim hurdle at the September 10 highs in the mid-126.00s

In the meantime, while above the 200-day SMA at 121.09, the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart

 

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