EUR/JPY Technical Analysis: Focus has re-shifted to the 122.00 area in the near term
|- The cross remains under downside pressure and is attempting a sideline theme in the lower end of the range, all against the backdrop of the sharp decline in place since mid-April.
- A test of recent lows at the 122.00 neighbourhood and probably below remains well on the cards as long as the multi-month resistance line, today at 125.92, caps the upside.
- Bouts of buying interest should meet interim resistance at the 10-day SMA at 123.07 ahead of 123.61 (high May 10).
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.