- EUR / JPY bounce ends near 131.60.
- So far, the next support comes at the 130.00 area.
The EUR/JPY it failed to carry the bullish momentum above the 131.60 zone at the reversal on Tuesday.
The inability of the cross to resume the recovery in the very short term could lead sellers to return to the market. That said, there is minor support at the 100 day SMA near 130.50 before the 130.00 psychological zone.
Losing the latter could accelerate losses towards the 129.60 area, or April lows.
In the bigger picture, as long as EUR / JPY remains above the 200-day moving average at 127.64, the broader outlook will remain constructive.
EUR / JPY day chart
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