- EUR/JPY keeps correcting lower and breaks below 126.00.
- Further north emerges the March 2019 high in the mid-127.00s.
EUR/JPY extends the weekly leg lower to fresh lows in the s
ub-126.00 region amidst the broader correction in the risk universe.
The current downside should be deemed as corrective only and carries the potential to re-visit the 124.40 zones (low August 21) ahead of the potential resumption of the bullish trend.
The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day
SMA at 120.60.
EUR/JPY Price Analysis: Further downside could test the 124.40 area
EUR/JPY daily chart
S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
124.76 |
125.16 |
125.52 |
126.28 |
126.68 |
127.04 |
Trend Index |
OB/OS Index |
Bearish |
Neutral |