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- EUR/JPY Price Analysis: Still room for extra decline
EUR/JPY Price Analysis: Still room for extra decline
- EUR/JPY reverses four consecutive daily pullbacks near 130.40.
- The 100-day SMA emerges as the next interim support.
EUR/JPY manages to reverse part of the recent intense selloff and meets initial contention near 130.30.
EUR/JPY, in the meantime, flirts with the 100-day SMA near 130.50 at the beginning of the week. A breach of the 100-day, today at 130.22, and the Fibo level (of the October rally) at 130.29 should give sellers further reasons to accelerate the downside in the short-term horizon.
Below the 200-day SMA, the outlook for the cross is predicted to shift to bearish.
EUR/JPY daily chart
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