- EUR / JPY extends weakness well below the 133.00 level.
- The 132.50 level emerges as the next support area.
The EUR/JPY builds up more selling pressure and tests the initial support zone around the 133.00 / 132.90 zone on Friday.
If the selling pressure picks up, then the cross could attempt a deeper pullback to, initially, the weekly lows near 132.50 (May 24). Further south is the 131.88 / 64 zone, where the 50-day SMA and the short-term support line coincide.
On the broader picture, while above the 200-day SMA at 127.41, the broader outlook for the cross should remain constructive.
Daily chart
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.