EUR/JPY Price Analysis: Corrective decline could retest 132.60
|- EUR/JPY regains some ground lost following Wednesday’s drop.
- Further downside should meet contention near 132.60.
EUR/JPY advances modestly after Wednesday’s strong drop to the 134.00 neighbourhood.
Price action around the cross remains inconclusive and further decline should not be ruled out so far. That said, the May low at 132.65 (May 12) is expected to hold occasional bearish attempts in the short-term horizon prior to the temporary 100-day SMA, today at 132.50.
In the meantime, while above the 200-day SMA at 131.13, the outlook for the cross is expected to remain constructive.
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.