- Analytics
- News and Tools
- Market News
- EUR/JPY Price Analysis: Refreshes four-month high on the way to 133.70 hurdle
EUR/JPY Price Analysis: Refreshes four-month high on the way to 133.70 hurdle
- EUR/JPY renews the highest levels since mid-June, eases from multi-day top of late.
- Horizontal line from late May challenges short-term buyers amid overbought RSI conditions.
- Pullback moves may fade around mid 132.00s, comprising 5-DMA.
EUR/JPY prints 0.15% intraday gains despite recently easing from the highest levels since June 16 to 133.25 during early Wednesday.
The cross-currency pair pierced a broad horizontal area from early May during the last week to flag the quote’s further advances toward the fresh multi-day top.
However, overbought RSI conditions and a horizontal line comprising multiple levels marked since May 28 could challenge the EUR/JPY bulls around 133.70.
Should the pair prices remain firm past 133.70, the yearly peak of 134.12, also the highest since February 2018, will be in the spotlight.
On the contrary, pullback moves need to slip beneath the 132.65-50 support area comprising 5-DMA to recall the sellers.
Following that, the mid-July tops near 131.00 and the last month’s peak around 130.70 will be on the EUR/JPY bears’ radars.
EUR/JPY: Daily chart
Trend: Limited upside expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
