- EUR/JPY adds to Tuesday’s losses and approaches 157.00 again.
- A deeper decline could find temporary support near 156.00.
He USD/JPY it accelerates its bearish momentum and on Wednesday falls to multi-day lows in the 157.00 area.
Should the corrective pullback gain further momentum, the cross could extend the move to the interim 55-day SMA around 156.00, which should hold early testing. To the south from here emerges the 100-day SMA near 152.50 ahead of the July low of 151.40 (July 28).
For now, the long-term positive outlook for the cross looks favored as long as it stays above the 200-day SMA, today at 147.51.
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.
