- EUR / JPY extends the slide to new five-week lows near 132.00.
- Further down is the next support at 131.00 zone.
EUR / JPY accelerated its decline to new multi-week lows near 132.00 on Thursday.
The cross is testing the initial support area around 132.00, where the 50-day SMA and the short-term line also coincide. A loss in this area could cause further losses, enabling a drop to the 131.00 area.
In the bigger picture, as long as EUR / JPY remains above the 200-day SMA at 127.56, the outlook will remain bullish.
EUR / JPY day chart
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