EUR/JPY Price Analysis: Still targets the 127.00 region

EUR/JPY leaves at the back of Thursday’s pullback and resumes the upside to clean tops in the 126.65/70 band at the cease of the week.

If the shopping for strain manages to collect similarly traction, then the 2020 peaks in the 127.00 sector (September 1) have to return to the investors’ radar. Some correction, however, have to no longer be dominated out as the go navigates the overbought territory (RSI at 74.5 at the time of writing).

Looking at the broader picture, whilst above the 200-day SMA at 121.63 the outlook must stay constructive. The October’s low round 121.60 additionally reinforces this key competition zone.


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