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100-day SMA near 123.50 offers support

The EUR / JPY’s corrective slide, from Monday’s highs around 125,000, finds decent support around the 100-day SMA at the 123.50 zone.

If sellers continue to push down, then the monthly lows near the 123.00 level could come under pressure before targeting the September low at 122.37 (September 28).

Meanwhile, from remaining above the 200 day SMA at 121.10, the outlook on the cross is expected to remain constructive.

EUR / JPY daily chart


Credits: Forex Street

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