- EUR/JPY breaks below the 159.00 support on Tuesday.
- If there are additional pullbacks, the 157.70 area could be revisited.
He EUR/JPY retreats for the seventh consecutive session and breaks the key support of 159.00 on Tuesday.
A continuation of the bearish bias appears to be in the cards for the time being. Conversely, the loss of the provisional 100-day SMA at 158.66 could pave the way towards minor support at the weekly low of 157.69 (Oct 30) before the October low at 154.34 (Oct 3).
For now, the positive long-term outlook for the cross seems favored as long as it remains above the 200-day SMA at 153.78.
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.
