EUR/JPY Price Analysis: Further losses likely below the 200-day SMA
|- EUR/JPY trades with modest losses and adds to Thursday’s strong drop.
- The cross broke below the 200-day SMA, exposing further weakness.
EUR/JPY remains under pressure and briefly revisited the key 140.00 neighbourhood at the end of the week.
The cross appears to have broken below the multi-session consolidative phase as well as the 200-day SMA, today at 140.93.
In doing so, further decline now appears in store in the very near term and with the immediate target at the 138.00 region.
EUR/JPY daily chart
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