EUR/JPY Price Analysis: Stays bearish below the 200-day SMA
|- EUR/JPY came under further pressure and printed 2020 lows.
- While capped by the 200-day SMA at 120.52, extra losses are likely.
EUR/JPY is showing some signs of life after hitting fresh 2020 lows in the 119.70/65 band at the beginning of the week.
The bearish stance remains well in place as long as the 200-day SMA, today at 120.52, caps the upside.
Against this backdrop, a move to the November low at 119.25 in the near-term should not be ruled out.
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.