EUR/JPY Price Analysis: Extra losses expected on a breach of the 200-day SMA
|- The leg lower in EUR/JPY has intensified to the 120.80 region.
- Below this area the cross faces extra downside.
The downside in EUR/JPY has picked up extra pace on Friday and is now flirting with the key 200-day SMA in the 120.80 zone.
If the selling impetus gathers extra traction, then then 100-day SMA, today at 120.26 should return to the radar ahead of 2020 lows in the 120.20/15 band.
Below the 200-day SMA the negative outlook should be reinstated in the cross.
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.