Next minor support comes at 136.16

  • EUR/JPY adds to Monday’s losses and challenges 137.00.
  • Immediately to the downside emerges the 100-day SMA.

EUR/JPY keeps the bearish note unchanged in the second half of the week so far.

While below the 4-month resistance line around 140.00, extra losses should remain on the table with the initial target at the 100-day SMA, today at 136.16. The loss of these levels exposes a deeper pullback to the minor support at 133.92 (low May 19).

In the longer run, the constructive stance in the cross remains well propped up by the 200-day SMA at 133.16.

EUR/JPY daily chart

.

Leave a Comment