EUR/JPY breaks 2024 highs, momentum accelerates – Société Générale
Source Fxstreet
EUR/JPY has surged past its 2024 and September highs, confirming renewed bullish momentum. A short-term pullback toward 175.00/174.70 could attract buyers, keeping the broader uptrend intact with upside targets at 177.60 and 178.80, Société Générale's FX analysts note.
Strong uptrend extends as EUR/JPY gaps higher
"EUR/JPY has surpassed both the 2024 high and the September peak, opening with a significant upward gap. This underscores a strong resurgence in upward momentum. Should a brief pullback occur, the gap area around 175.00/174.70 is expected to offer initial short-term support."
"If the pair maintains above this zone, the uptrend is likely to continue. The next potential objectives are located at projections of 177.60 and 178.80."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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