EUR/JPY Price Analysis: Next on the downside comes the 100-day SMA

Market news

8 July 2022

EUR/JPY Price Analysis: Next on the downside comes the 100-day SMA

EUR/JPY trades without direction in the 138.00 region.
Next on the downside comes the 100-day SMA.

EUR/JPY printed news multi-week lows in the 136.80 region, although it managed to regain composure afterwards.

The cross remains under pressure, particularly after breaking below the 4-month support line, today around 139.65. That said, further downtrend could revisit the 100-day SMA at 136.00 ahead of the minor support at 133.92 (low May 19).

In the longer run, the constructive stance in the cross remains well propped up by the 200-day SMA at 133.07.

EUR/JPY daily chart

Currencies. Daily history for Friday, July 8, 2022

Commodities. Daily history for Thursday, July 7, 2022

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