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8 Apr 2019
EUR/JPY Technical Analysis: Further consolidation expected near term. The 125.50 area keeps capping the upside
- EUR/JPY is prolonging the sideline trading at the beginning of the week, so far managing well to keep the trade above the 125.00 handle.
- The cross needs to surpass recent highs in the mid-125.00s to allow for the continuation of the up move to the 100-day SMA at 125.98 ahead of late March peaks in the 126.80 region.
- Further up, the cross needs to clear the key short-term resistance line, today at 126.22, to alleviate downside pressure.
