EUR/JPY intensifies the recent breach of the 126.00 mark. In this selling context, further downside remains well on the table. EUR/JPY extends the downtrend and approaches the 125.00 mark on Monday, extending the negative streak for the seventh session. The ongoing leg lower met initial contention in the low-125.00s on Monday, area reinforced by the the 55-day SMA (125.17) and October/November tops. A breakdown of this region should expose the 100-day SMA at 124.75 ahead of the Fibo retracement (of the October-January rally) at 124.55. Looking at the broader picture, while above the 200-day SMA at 122.72 the outlook for the cross should remain constructive. EUR/JPY daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Silver Price Analysis: XAG/USD to resume the uptrend on a break of the $29.86 2020 high – Credit Suisse FX Street 2 years EUR/JPY intensifies the recent breach of the 126.00 mark. In this selling context, further downside remains well on the table. EUR/JPY extends the downtrend and approaches the 125.00 mark on Monday, extending the negative streak for the seventh session. The ongoing leg lower met initial contention in the low-125.00s on Monday, area reinforced by the the 55-day SMA (125.17) and October/November tops. A breakdown of this region should expose the 100-day SMA at 124.75 ahead of the Fibo retracement (of the October-January rally) at 124.55. Looking at the broader picture, while above the 200-day SMA at 122.72 the outlook for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
