EUR/JPY Price Analysis: Next on the downside comes 161.20
|- EUR/JPY adds to the negative start of the week and tests 162.20.
- Further losses could revisit the 161.20 zone in the near term.
EUR/JPY corrects further down and drops to four-day lows around 162.20 on Tuesday.
The continuation of the downward bias carries the potential to drag the cross to the weekly low of 161.20/25 band (November 21) prior to the provisional 55-day SMA, today at 159.40.
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.37.
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.