EUR/JPY Price Analysis: Corrective decline could revisit 146.30
|- EUR/JPY extends the weekly correction to the sub-150.00 zone.
- Further retracement could see the cross retest the 146.30 region.
EUR/JPY adds to Tuesday’s decline and breaches the key 150.00 support on Wednesday.
The underlying bullish stance appears unchanged so far, although the ongoing correction carries the potential to extend to the weekly low at 146.30 (April 25), where the cross is expected to meet decent contention.
So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.60.
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.