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6 Dec 2019
EUR/JPY Technical Analysis: Remains sidelined above the 120.00 handle
- EUR/JPY has moved into a sideline phase, always below 121.00.
- Immediately above emerges the 121.50 region as next target.
EUR/JPY is seen some corrective downside after two consecutive daily advances, although the price action remains well within the recent familiar range.
The next hurdle of relevance if bulls regain the upper hand comes in at the 121.50 region, where sit October and November tops and the critical 200-day SMA.
On the other hand, if the selling bias returns to the markets, then the focus of attention should shift to the 119.70 zone, where coincide the 55-day SMA and November 25th low.
