- EUR/JPY Price Analysis: A drop to the 200-day SMA remains in store
Market news
25 January 2023
EUR/JPY Price Analysis: A drop to the 200-day SMA remains in store
- EUR/JPY loses further ground and breaches the 142.00 level.
- The next support is seen at the key 200-day SMA near 140.80.
EUR/JPY adds to the weekly leg lower and breaks below the key support at 142.00, or 2-day lows, on Wednesday.
In case the downside accelerates, the next support of note emerges at the 200-day SMA, today at 140.79. A sustainable drop below the latter exposes extra weakness to, initially, the 138.00 neighbourhood.
The constructive outlook for EUR/JPY is seen unchanged above the 200-day SMA for the time being.
EUR/JPY daily chart
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