- EUR/JPY remains under pressure and approaches 119.50.
- A breach of the 200-day SMA should open the door to extra losses.
EUR/JPY is navigating the area of multiday lows in the 120.00 neighbourhood, managing to bounce off fresh lows the 119.80 zone.
Following this price action, a potential move to the 200-day SMA in the mid-119.00s looks likely in the short-term horizon.
In the meantime, while above the 200-day SMA, the outlook on the cross is expected to remain positive.
EUR/JPY daily chart
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