Drop to 122.40 is now within the means

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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

eurjpy

Credits: Forex Street

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