EURJPY remains overall quiet but held supported at 120.375
I originally missed an opportunity over on EURUSD, but I believe there's one present here. We can see that price traded below the 120.375 level, but has consistently held above it. As long as we see this level sustain, I believe further upside can be expected.
There is still a concern on a fundamental level. We've previously seen certain currencies being favored (Japanese yen) whenever there's an increasing report of COVID-19 cases. If we see a surge in yen buyers, this pair would likely fall.
For the time being, the technical standpoint still allows us to remain bullish.
There is still a concern on a fundamental level. We've previously seen certain currencies being favored (Japanese yen) whenever there's an increasing report of COVID-19 cases. If we see a surge in yen buyers, this pair would likely fall.
For the time being, the technical standpoint still allows us to remain bullish.