EUR/JPY PRICE ANALYSIS: STILL ROOM FOR EXTRA DECLINE

• EUR/JPY reverses four consecutive daily pullbacks near 130.40.
• The 100-day SMA emerges as the next interim support.

EUR/JPY manages to reverse part of the recent intense selloff and meets initial contention near 130.30.

EUR/JPY, in the meantime, flirts with the 100-day SMA near 130.50 at the beginning of the week. A breach of the 100-day, today at 130.22, and the Fibo level (of the October rally) at 130.29 should give sellers further reasons to accelerate the downside in the short-term horizon.

Below the 200-day SMA, the outlook for the cross is predicted to shift to bearish.

EUR/JPY DAILY CHART