EUR/JPY Technical Analysis: Upside remains capped by the 55-day SMA at 122.45

EUR/JPY is rebounding from recent lows in the mid-121.00s on a better mood around the risk-associated space.
Extra gains in the cross remain limited by the 55-day SMA at 122.45 for the time being. Above this area the downside pressure should mitigate somewhat and could motivate the cross to test of the 123.00 zone and above. Further up emerges July top at 123.35.
In the meantime, the bearish outlook on the cross remains intact below the short-term resistance line, today at 122.69.

EUR/JPY daily chart

Jul 15, 2019

Consolidation around USD/JPY remains unchanged – UOB

FX Strategists at UOB Group noted USD/JYP is expected to keep intact its rangebound theme in the near term. Key Quotes 24-hour view: “The rapid and sh

Australian CPI to rise 0.5% q/q and 1.5% y/y in Q2 - Westpac

Justin Smirk, Senior Economist at Westpac Westpac forecast a 0.5% rise in the June quarter CPI lifting the annual pace to 1.5%yr from 1.3%yr. Key Quot