- EUR / JPY bearish momentum lingers around the 123.00 region on Thursday.
- Immediately to the downside appear the September lows near 122.40.
The EUR / JPY cross alternates losing gains around the 123.00 region on Thursday after an initial drop to weekly lows at the 122.85 / 80 zone.
Meanwhile, the odds of a move lower remain on the table, with the next notable support at September lows at the 122.40 zone. In case of falling below that region, a new visit to the monthly lows in the 121.60 zone should not be ruled out on the short-term horizon.
The downward pressure is expected to accelerate if the EUR / JPY breaks below that level, exposing the 200-day SMA, today at 121.35.
EUR / JPY daily chart
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