Apr 22, 2019
EUR/JPY Technical Analysis: The cross faces strong resistance in the 126.70/80 band
- EUR/JPY is prolonging the sideline theme in the lower end of the recent range following last week’s sell off to the 125.60 region.
- On the upside, the cross needs to overcome recent peaks in the 126.80 area. This region of resistance appears reinforced by the short-term resistance line, today at 126.73.
- Above this zone, the downside pressure should be alleviated, opening the door at the same time for a potential test of 2019 highs in the mid-127.00s.
EUR/JPY daily chart