- EUR / JPY extends lower to the 123.00 area.
- The risks of a deeper pullback are there, dominating the landscape.
EUR / JPY accelerated lower and fell again on Friday. So far, the cross has managed well to find support near the 120.00 area.
If the bearish tone intensifies, then the EUR / JPY is expected to hit the next relevant dispute area around 122.40, where the September low lies. Lower down is the critical 200-day SMA just above 121.00.
Above this zone, the outlook for the crossing is expected to remain constructive.
EUR / JPY day chart
Credits: Forex Street