EUR/JPY Price Analysis: Solid resistance turns up around 143.00

Market news

7 February 2023

EUR/JPY Price Analysis: Solid resistance turns up around 143.00

EUR/JPY gives away part of the recent strong rebound to the 143.00 area.
Losses could gather traction on a breach of the 200-day SMA.

EUR/JPY leaves behind two consecutive sessions with gains and comes under pressure after another failed attempt to break above the 143.00 region.

In the meantime, the 143.00 area remains a tough barrier for bulls. This key resistance zone appears reinforced by the 100-day SMA, today at 142.91

If the cross breaches the 200-day SMA at 140.99, the outlook is expected to shift to bearish.

EUR/JPY daily chart

Currencies. Daily history for Tuesday, February 7, 2023

Commodities. Daily history for Monday, February 6, 2023

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