They raise the stakes for a bigger drop

3

Get real time updates directly on you device, subscribe now.

  • EUR / JPY extends the weekly decline towards the 126.50 area.
  • Then, to the downside, the 126.00 area appears.

EUR / JPY extends the downtrend below the 127.00 level for the fourth consecutive session on Wednesday.

The continuation of the bearish bias should expose a potential test to the 126.00 zone in the near term, ahead of the 125.70 zone, or the lower bound of the recent multi-week consolidation.

Looking from a broader perspective, as long as it remains above the 200 SMA at 122.61, the outlook for the crossover should remain constructive.

EUR / JPY day chart

EUR/JPY

.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.