- EUR/JPY is under pressure and Thursday’s advance fades.
- Further weakness is anticipated below the 200-day SMA.
He USD/JPY resumes the downtrend and returns to the area below 141.00 by the end of the week.
The cross looks sideways in the second half of the week at the lower end of the weekly range. Occasional upside attempts should initially clear the interim 100-day SMA near 142.80 to allow for a test of the 2023 high at 145.56 (March 2).
Meanwhile, additional losses are expected as long as the cross breaks below the 200-day SMA. If the losses accelerate, a possible visit to the March low at 139.11 (March 16) is on the horizon.
EUR/JPY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
