EUR/JPY procedures the key barrier at one hundred twenty five on Tuesday.
If this stage is cleared, then the subsequent goal comes in at 127.00.
EUR/JPY fades Monday’s bad rate motion and resumes the upside in the direction of the key one hundred twenty five neighbourhood.
If this essential hurdle is cleared in the near-term, then there are no applicable resistance degrees till the 2020 peaks in the 127.00 neighbourhood (September 1).
Looking at the broader picture, whilst above the 200-day SMA at 121.53 the outlook ought to continue to be constructive. The October’s low round 121.60 additionally reinforces this key rivalry zone.