- EUR/JPY adds to Tuesday’s pullback and retests the 138.00 area.
- Further decline could see the September low near 137.30 retested.
EUR/JPY extends weekly downside correction to around 138.00 on Wednesday.
Given the ongoing price action, further weakness should not be ruled out, especially given the prospect of further euro weakness and the specter of further intervention in the Bank of Japan and the Ministry of Finance.
Conversely, a break of the September low at 137.36 (Sep 26) could put a visit to the 200 SMA at 135.71 on the radar on the short-term horizon.
EUR/JPY day chart
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
