EURJPY Heads Toward 126.00 Levels As Buyers Aim for Monthly Highs


EURJPY Price Analysis – September 11

EURJPY pulls price around 125.58 level, up 0.43 percent daily, towards 126.00 round figure during the European session on Friday. The emerging risk-on sentiment is now raising EURJPY to fresh 3-day highs as ECB kept its monetary policy unaltered.

Key Levels
Resistance Levels: 127.50, 127.07, 126.78
Support Levels: 124.43, 123.37, 121.96
EURJPY Long term Trend: Bullish
At present, EURJPY is progressing 0.31 percent at level 125.96 and confronts the next up hurdle at level 127.07 (2020 high Sep.1) led by level 127.50 and eventually level 129.25. On the other side, a decline beneath level 124.43 may reveal level 123.37, and eventually level 122.87 (low).

If the recovery gathers extra momentum, then there is no significant barrier to hitting levels just beyond the 127.00 zone of the 2020 high, meanwhile, the positive bias in EURJPY is anticipated to remain unchanged as long as the cross-trades surpass the moving average of 13 at 125.58 level.
EURJPY Short term Trend: Ranging
With support level 124.43 intact, the intraday bias in EURJPY stays initially neutral. A further rise is in favor of continuing and a breach of level 127.07 may restart the surge from level 114.39 to level 128.67.

However, considering the range as a condition in RSI, a strong 124.43 level breach may indicate short-term topping. The intraday bias is switched back to the downside for horizontal support (now at 123.37 level) and a further 38.2 percent retraction at 122.87 level from 114.42 to 127.07 levels.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.