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6 Mar 2020

EUR/JPY Price Analysis: Extra downside expected to test 118.30

  • EUR/JPY is extending the leg lower below the 119.00 mark.
  • Immediately to the downside emerges the 118.30 region, or yearly lows.

EUR/JPY is prolonging the downside for the second session in a row on Friday, exacerbated after breaking below the key support at 119.00 the figure.

The bearish view is expected to remain unchanged as long as the 200-day SMA, today at 120.24, caps the upside.

Against this backdrop, the cross faces the next support of relevance in the 118.30 region, or YTD lows ahead of October 2019 lows in the 117.00 neighbourhood.

EUR/JPY daily chart

 

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