Home EUR/JPY Technical Analysis: Correction lower erodes the 21-day/10-day SMAs near 122.00

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EUR/JPY Technical Analysis: Correction lower erodes the 21-day/10-day SMAs near 122.00

FX Street

Published date: 2 Jul. 2019 | 09:22

EUR/JPY failed just ahead of the 123.50 level and is now approaching the low-122.00s, where sit the 21-day/10-day SMAs.
If the selling impetus gathers traction, the 120.95 level (June 21 low) should emerge as the next target ahead of 120.78 (May lows).
Looking at the broader picture, the bearish outlook on the cross remains unchanged while capped by the multi-month resistance line, today at 124.54.

EUR/JPY daily chart

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