EUR/JPY Price Analysis: Decent support emerges around 122.50
|- EUR/JPY seems to have met solid contention in the mid-122.00s.
- Further south comes in the 100-day SMA at 122.27.
EUR/JPY regains some composure after bottoming out in the 122.50 region so far this week, the lowest level since mid-July.
The bearish note seems still in place and a move to the minor support at the 100-day SMA at 122.27 should not be discarded just yet. If cleared, then the critical 200-day SMA, today at 120.86, should return to the investors’ radar.
Below the 200-day SMA the outlook on the cross is expected to shift to bearish.
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.