EUR/JPY Price Analysis: Extra downside exposes the 200-day SMA
|- EUR/JPY resumes the downside well below 130.00.
- Further south comes in the 200-day SMA at 128.33.
The leg lower in EUR/JPY picks up renewed pace and challenges the support at the 129.00 neighbourhood at the beginning of the week.
The loss of this area should expose further downside. That said, there is a minor support at 128.54 (Fibo level) ahead of the critical 200-day SMA, today at 128.33.
Above the latter, the broader outlook for the cross is seen as constructive for the time being.
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.