EUR/JPY Price Analysis: Bullish stance remains unchanged

  • EUR/JPY retakes the 126.00 mark at the beginning of the week.
  • Immediately to the upside now emerges the 127.00 zone.

EUR/JPY has started the week on a positive mood and is already trading above 126.00 the figure on the back of the recent improvement in the risk complex.

Immediately to the upside emerges the 2020 tops in the 126.75/80 band (August 28), area coincident with April 2019 peaks. A clear breakout of this area of multi-month peaks should open the door to a move to the 127.00 neighbourhood and above, where the March 2019 is located (127.50).

The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day SMA at 120.51.

EUR/JPY daily chart

 

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