EUR/JPY Price Analysis: Rising bets for a test of the 200-day SMA
|- EUR/JPY remains well on the defensive and breaches 129.00.
- Further south comes in the 200-day SMA near 128.30
The weekly downside in EUR/JPY gathers extra steam and breaks below 129.00 for the first time since mid-March.
The loss of this area should allow for 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.
Below the latter, the outlook for EUR/JPY is seen shifting to bearish (from constructive).
EUR/JPY daily chart
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