Daily Market Analysis 20|04|2021: EURJPY

Daily Analysis / Online Education

Daily Market Analysis 20|04|2021: EURJPY

Instrument: EURJPY

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 130.716 with take profit at 130.848.
Bearish Preference: 
Sell position is envisaged if price trades below 130.488 with take profit at 130.356
No major fundamental. 

Comment:  The persistent sell-off in the greenback gave extra strength to the The increased buying pressure around the Japanese yen weighs on EUR/JPY and keeps it within the usual rangebound theme around the 130.00 level. However, steady/declining US yields added to the buying sentiment around the Japanese safe haven, all rendering into further consolidation around the cross and undermining the EUR-led upside potential.

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