• EUR/JPY Price Analysis: Interim hurdle now comes at 146.13

Market news

25 November 2022

EUR/JPY Price Analysis: Interim hurdle now comes at 146.13

  • EUR/JPY leaves behind three consecutive daily pullbacks on Friday.
  • Next on the upside appears the weekly high above 146.13.

EUR/JPY bounces off weekly lows and regains some composure above the 145.00 barrier at the end of the week.

Considering the ongoing rebound, the cross now faces an interim resistance at the weekly high at 146.13 (November 23). The break above the latter exposes a potential move to the November tops past the 147.00 level.

In the longer run, while above the key 200-day SMA at 138.76, the positive outlook is expected to remain unchanged.

EUR/JPY daily chart

 

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.