EUR/JPY remains on the defensive below the 129.00 mark. Further decline could see the 127.80 area retested in the near-term. EUR/JPY adds to Tuesday’s losses and accelerates the downside below the 129.00 support on Wednesday. The upside momentum now looks dented and a deeper pullback in the cross could re-visit the 127.75/80 band, where coincide the 50-day SMA and the short-term support line (off the November’s low). A break below the latter should alleviate the upside pressure and allow for the continuation of the downtrend, at least in the near-term view. In the meantime, while above the 200-day SMA at 125.04 the broader 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 AUD/USD pares daily losses, trades around 0.7620 as focus shifts to US data FX Street 9 months EUR/JPY remains on the defensive below the 129.00 mark. Further decline could see the 127.80 area retested in the near-term. EUR/JPY adds to Tuesday's losses and accelerates the downside below the 129.00 support on Wednesday. The upside momentum now looks dented and a deeper pullback in the cross could re-visit the 127.75/80 band, where coincide the 50-day SMA and the short-term support line (off the November's low). A break below the latter should alleviate the upside pressure and allow for the continuation of the downtrend, at least in the near-term view. In the meantime, while above the 200-day SMA at… Top 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.
