EUR/JPY Price Analysis: Next on the upside still emerges 146.70

Market news

22 February 2023

EUR/JPY Price Analysis: Next on the upside still emerges 146.70

EUR/JPY comes under pressure following recent YTD peaks.
Further upside should refocus on the December 2022 high near 146.70.

EUR/JPY faces some selling pressure after surpassing the 144.00 hurdle on Tuesday, or new 2023 tops.

While the cross looks somewhat side-lined for the time being, a convincing breakout of the 2023 high at 144.16 (February 21) could spark extra strength to, initially, the December 2022 peak at 146.72 (December 15).

In the meantime, while above the 200-day SMA, today at 141.34, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart

Currencies. Daily history for Wednesday, February 22, 2023

Commodities. Daily history for Tuesday, February 21, 2023

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

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.