- The EUR / JPY retracement found support at the 122.80 region.
- Immediately to the downside, the September lows appear near 122.40.
EUR / JPY is looking to move further away from the weekly lows near 122.80 (Thursday), although bullish attempts are being limited for the time being.
Meanwhile, the odds of a move to the downside remain within the possibilities with the next noticeable support at September lows at the 122.40 zone. In case of being broken, a new visit to the monthly lows in the region of 121.60 should not be ruled out on the short-term horizon.
The downward pressure is expected to accelerate if the EUR / JPY breaks below the latter, exposing the key 200-day SMA, today at 121.38.
EUR / JPY day chart
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