- EUR/JPY bounces hard and breaks above the 141.00 barrier.
- A convincing break of the 200-day MA (140.74) would enable further gains.
EUR/JPY rallied strongly and reversed the weekly consolidation trend, breaking above the critical 200-day SMA at the same time.
A sustainable break of the 200-day SMA, today at 140.74, should shift the outlook to a more constructive one and open the door for a probable visit to the key resistance zone near 143.00 (28 Dec and 11 Jan highs). ).
To the downside, initial containment remains around the 138.00 area for now.
EUR/JPY day chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
