EUR/JPY Price Analysis: The 200-day SMA holds the downside… for now

Market news

26 January 2023

EUR/JPY Price Analysis: The 200-day SMA holds the downside… for now

EUR/JPY regains the 141.00 barrier following a drop to 140.90/85.
The loss of the key 200-day SMA should expose extra losses.

EUR/JPY now treads water in the 141.40 region after bottoming out in weekly lows near 140.80 earlier in the session on Thursday.

In case the downside accelerates, the next support of note emerges at the 200-day SMA, today at 140.80. 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

Currencies. Daily history for Thursday, January 26, 2023

Commodities. Daily history for Wednesday, January 25, 2023

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