- EUR/JPY looks offered and challenges 133.00.
- The 132.50 area should offer decent contention.
EUR/JPY drops to new multi-day lows in the vicinity of the 133.00 neighbourhood at the beginning of the week.
If the selling pressure gathers extra steam, then the cross could attempt a deeper pullback to, initially, the weekly lows near 132.50 (May 24). Further south comes in the 131.60/50 region, where coincides the 50-day SMA and the short-term support line.
In the broader picture, while above the 200-day SMA at 127.27 the broader outlook for the cross should remain constructive.
EUR/JPY daily chart
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