- EUR/JPY extends the bearish movement to the 159.00 area.
- If it continues to decline, it could revisit the 100-day SMA near 158.60.
He EUR/JPY accelerates its losses and tests the support of 159.00 at the beginning of the week.
The continuation of the bearish bias seems to be foreseen for the moment. Conversely, the 100-day SMA at 158.62 is expected to offer temporary containment ahead of the October low at 154.34 (October 3).
For now, the long-term positive outlook for the cross seems favored as long as it remains above the 200-day SMA at 153.71.
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.
