- EUR/JPY rebounds and recovers to the 138.00 level.
- The immediate target appears at the 200-day SMA at 140.45.
The EUR/JPY manages to put behind four consecutive daily falls and recovers the zone of 138.00 on Wednesday.
Despite the daily bounce, the cross is still trading under pressure and the door remains open for another probable visit to recent lows in the 137.40/35 area (Jan 3).
The outlook is expected to remain negative as long as it stays below the 200-day SMA, today at 140.45.
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.
