EUR/JPY Price Analysis: Change of direction could retest 142.50
|- EUR/JPY adds to the corrective downside and breaches 144.00.
- The continuation of the leg lower could revisit 142.50.
EUR/JPY corrects further south and briefly tests the 143.60 region on Thursday, or multi-session lows.
The cross reversed the strong rebound soon after trespassing the 146.00 mark on Wednesday and sparked quite a marked reversal. That said, further weakness could now motivate EUR/JPY to slip back to the November low at 142.54 (November 11) sooner rather than later.
In the longer run, while above the key 200-day SMA at 138.68, the positive outlook is expected to remain unchanged.
EUR/JPY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.