Sunday, August 25, 2019

EUR/JPY Technical Analysis: additional consolidation remains on the cards within the close to term

EUR/JPY is prolonging the weekly sideline theme just under the 118.50 region.

Immediately to the upper side emerges the 21-day SMA at 118.86 earlier than last week’s crack close to 119.90.

Looking at the broader image, whereas below the 55-day SMA at a hundred and twenty.64 and also the multi-month resistance line at a hundred and twenty.79, the pessimistic read is anticipated to stay unchanged.

EUR/JPY daily chart


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