- EUR/JPY Price Analysis: Further losses on the cards below the 100-day SMA
Market news
9 March 2023
EUR/JPY Price Analysis: Further losses on the cards below the 100-day SMA
- EUR/JPY accelerate losses and drops to the sub-144.00 region.
- There is an interim support at the 100-day SMA just above 143.00.
EUR/JPY fades Wednesday’s small advance and drops to new multi-day lows below the 144.00 level on Thursday.
While further side-lined trading seems likely for the time being, the cross could face bouts of selling pressure and confront the provisional 100-day SMA at 143.09. The loss of the latter could spark a deeper move to the weekly low at 142.14 (February 24).
In the meantime, while above the 200-day SMA, today at 141.75, the outlook for the cross is expected to remain positive.
EUR/JPY daily chart
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