EUR/JPY Price Analysis: Next big supports comes in at 128.12
|- EUR/JPY accelerates the weekly losses and breaches 130.00.
- Next on the downside comes in the 200-day SMA.
The downside momentum in EUR/JPY gathers extra steam and forces the cross to break below the key support at 130.00 on Thursday.
The mid-129.00s (April lows) emerge as the next support of note. The loss of this area could spark a deeper pullback to the critical 200-day SMA, today at 128.12.
Below the latter, the outlook for EUR/JPY 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.