- EUR/JPY Price Analysis: No changes to the consolidative stance
Market news
28 March 2023
EUR/JPY Price Analysis: No changes to the consolidative stance
- EUR/JPY keeps the erratic performance well in place on Tuesday.
- Further range bound trade seems the name of the game.
EUR/JPY fades part of the auspicious start of the week and probes the 141.00 neighbourhood on Tuesday.
The cross keeps hovering around the key 200-day SMA near 141.80, and a sustainable surpass of this region should open the door to further upside in the short-term horizon. Moving forward, the consolidation theme is expected to remain unchanged as long as the March peaks around 145.50 continue to cap the upside.
In the meantime, extra losses remain on the table while the cross trades below the 200-day SMA.
EUR/JPY daily chart
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