- EUR/JPY adds to the weekly leg lower in the mid-126.00s.
- Next on the downside appears the 126.00 neighbourhood.
EUR/JPY extends the downtrend below the 127.00 level for the fourth consecutive session on Wednesday.
The continuation of the selling note should expose a potential test of the 126.00 neighbourhood in the near-term, ahead of the 12570 zone, or the lower bound of the recent multi-week consolidative theme.
Looking at the broader picture, while above the 200-day SMA at 122.61 the outlook for the cross should remain constructive.
EUR/JPY daily chart
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