- EURJPY extends weekly retracement well below 145.00
- Continuation of the downtrend could retest the 143.70 area.
The EUR/JPY remains under heavy pressure and falls to multi-session lows in the 144.00 area on Thursday.
Further short-term weakness seems likely and the cross could pull back to the weekly low of 143.72 (Oct 24). Loss of this level could open the door for a test of the 55-day SMA at 142.40.
In the short term, the bullish momentum is expected to persist as long as it is above the October lows near 141.00.
In the longer term, as long as it is above the key 200-day SMA at 137.61, the constructive outlook is expected to hold.
EURJPY daily chart
Source: Fx Street
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