- EUR / JPY reverses the recent advance and falls below 130.00.
- The 128.50 region should withstand the initial test if the dip picks up the pace.
After a failed attempt to break above the 130.30 area, the crossing EUR / JPY comes under selling pressure and slides below the 130.00 level on Tuesday.
More range moves are expected, although additional weakness should not be ruled out, at least in the very short term. Against this, the cross risks another test of the recent lows in the 128.50 region. This key support area is also reinforced by a Fibonacci level at 128.54 and the 200-day SMA at 128.50.
As long as it is above the 200-day SMA at 128.50, the outlook for the EUR / JPY is expected to remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
.jpg "Miley Cyrus likes to amaze her audience: Something Beautiful’s review"){kind=small}
