EUR/JPY Price Analysis: The 128.00 area holds the downside, for now
|- EUR/JPY adds to the recent pullback and retests 128.00.
- Further south comes the August/September lows at 127.93.
EUR/JPY extends the downside and revisits the 12800 region at the end of the week.
The continuation of the downtrend remains in the pipeline and therefore another visit to the monthly low at 127.97 (November 19) looks likely in the short-term horizon. A move further south should see the August and September low around 127.93 retested.
Looking at the broader picture, the outlook for the cross is expected to remain negative while below the 200-day SMA, today at 130.54.
EUR/JPY daily chart
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