Site icon Welcome to Range Market | Online Currency Trading | True ECN Broker

EUR/JPY PRICE ANALYSIS: A DROP TO 130.00 IS NOT RULED OUT

The downside momentum in EUR/JPY picks up extra pace and tests the proximity of the 131.00 yardstick on turnaround Tuesday.

The continuation of the downtrend should meet an interim support at the 100-day SMA just below 131.00 the figure. Further south, there is no relevant contention region until the psychological 130.00 zone, where sits the June lows.

In the broader picture, while above the 200-day SMA at 128.05 the broader outlook for the cross should remain constructive.

EUR/JPY DAILY CHART

Exit mobile version