EUR/JPY Price Analysis: Interim hurdle emerges near 130.30
- EUR/JPY extends the recovery for the third session in a row.
- There is a minor resistance at the Fibo level near 130.30.
EUR/JPY adds to the recent gains and retakes the psychological 130.00 mark and a tad above on turnaround Tuesday.
Further upside in the cross is seen meeting the next interim hurdle at the Fibo level (of the June-August drop) at 130.29. The surpass of this area should open the door to another visit to monthly peaks around 130.70.
If sellers regain the upper hand, then the focus of attention should shift to the 200-day SMA, today at 129.51. The loss of this area should change the short-term outlook to neutral/bearish from constructive.
EUR/JPY daily chart
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September 14, 2021 at 02:11AM