EUR/JPY Price Analysis: Further decline targets 128.30

Market news

19 November 2021

EUR/JPY Price Analysis: Further decline targets 128.30

EUR/JPY resumes the downtrend and breaches 129.00.
Next of note on the downside comes the 128.30 region.

EUR/JPY accelerates losses and drops below the key support at 129.00 the figure on Friday.

A deeper pullback looks likely with the immediate support now emerging at October’s low at 128.33 (October 6). If cleared, then a move to the YTD low at 127.93 (September 22) should return to the radar in the short-term horizon.

Below the 200-day SMA, today at 130.51, the outlook for the cross is seen as negative.

EUR/JPY daily chart

Currencies. Daily history for Friday, November 19, 2021

Commodities. Daily history for Thursday, November 18, 2021

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