EUR/JPY Price Analysis: Decent support emerges around the 200-day SMA

Market news

3 August 2022

EUR/JPY Price Analysis: Decent support emerges around the 200-day SMA

EUR/JPY adds to Tuesday’s bounce off the 133.40 region.
The 200-day SMA at near 133.70 holds the downside so far.

EUR/JPY extends the rebound to the boundaries of 136.00 after bottoming out in the vicinity of the 200-day SMA on Tuesday (133.71).

Further upside in the cross appears in store for the time being, with the interim hurdles at the 100- and 55-day SMAs at 137.78 and 139.45, respectively.

While above the 200-day SMA, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

Currencies. Daily history for Wednesday, August 3, 2022

Commodities. Daily history for Tuesday, August 2, 2022

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