- EUR/JPY adds to Friday’s decline and breaks 139.00.
- Continued losses below the 200-day SMA seem likely.
He USD/JPY extends the downtrend to new lows in the area below 139.00 earlier in the week.
The cross remains under pressure and the door seems open to a continuation of the downtrend for now. Immediate containment emerges at the weekly low of 137.91 (Jan 19) ahead of the 2023 low of 137.38 (Jan 3).
Meanwhile, further losses are expected as the cross trades below the 200-day SMA at 141.77 today.
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.
