EUR/JPY extends gains after breaking out of a multi-month range, supported by bullish momentum and stable technical indicators, Société Générale’s FX analysts note.
EUR/JPY builds on bullish momentum above 165 support
“EUR/JPY recently broke out from its multi-month range highlighting possibility of extension in up move. Daily MACD remains anchored within positive territory denoting prevalence of upward momentum.”
“Recent pivot low and the upper limit of previous consolidation at 165/164.60 is a crucial support zone near term. Next objectives could be located at projections of 168.40 and 170/170.60.”
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