- EUR/JPY recovers some lost ground after Wednesday’s decline.
- Further decline should find support near 132.60.
EUR/JPY is modestly higher after Wednesday’s sharp decline to the 134.00 area.
Price action around the cross remains inconclusive and further declines should not be ruled out- May low at 132.65 (May 12) expected to hold occasional bearish attempts on short-term horizon ahead of simple moving average of 100 days, today at 132.50.
Meanwhile, if it remains above the 200-day SMA at 131.13, the outlook for the cross is expected to remain constructive.
EUR/JPY day chart
Source: Fx Street
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