- EUR/JPY keeps correcting lower and breaks below 126.00.
- Further north emerges the March 2019 high in the mid-127.00s.
EUR/JPY extends the weekly leg lower to fresh lows in the sub-126.00 region amidst the broader correction in the risk universe.
The current downside should be deemed as corrective only and carries the potential to re-visit the 124.40 zone (low August 21) ahead of the potential resumption of the bullish trend.
The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day SMA at 120.60.
EUR/JPY daily chart
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