- July 8, 2021
- Posted by: Analysis Team
- Category: Forex News
- EUR/JPY accelerates the weekly losses and breaches 130.00.
- Next on the downside comes in the 200-day SMA.
The downside momentum in EUR/JPY gathers extra steam and forces the cross to break below the key support at 130.00 on Thursday.
The mid-129.00s (April lows) emerge as the next support of note. The loss of this area could spark a deeper pullback to the critical 200-day SMA, today at 128.12.
Below the latter, the outlook for EUR/JPY is expected to shift to bearish.
EUR/JPY DAILY CHART