- 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