- EUR / JPY remains well above the 126.00 barrier.
- Higher up, it will target current year’s highs around 127.00.
EUR / JPY extends the rally well above the 126.00 barrier amid persistent improvement in the risk complex.
If the upward pressure manages to gain more traction, then the 2020 peaks at the 127.00 zone (September 1 high) should return to investors’ radar. However, some correction could be taking shape as the cross moves into overbought territory.
Looking at the bigger picture, as long as it remains above the 200-day SMA at 121.59, the outlook should remain constructive. The October low of around 121.60 also reinforces this key buffer zone.
EUR / JPY day chart
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
