- EUR / JPY finds initial support in the 123.80 region so far.
- Immediately to the upside, the obstacle of 125.00 arises.
EUR / JPY extends Wednesday’s moderate pullback and finds initial containment at the 123.80 area so far on Thursday.
The 100-day SMA emerges lower at 123.50, which should offer additional support if the selling bias intensifies. Occasional bullish attempts, on the opposite side, need to regain the recent highs in the 125.00 neighborhood to enable more raises.
Meanwhile, remaining above the 200-day SMA at 121.09, the outlook on the crossover is expected to remain constructive.
EUR / JPY day chart
Credits: Forex Street
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