EUR/JPY extends the bearish note and trades in the mid-123.00s. Further south emerges the key contention area around 122.90. EUR/JPY remains under heavy downside pressure and it has broken below the 3-month support line in the 123.70/75 band. The bearish impulse is gathering extra steam and a convincing breakdown of this support line should expose a test of the major contention area around 122.90, where coincide the January peaks and the late-July lows. The next critical target on the downside emerges at the 200-day SMA at 120.84. Below this area, the outlook on the cross is expected to shift to bearish. 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 Central Bank of Russia leaves policy rate unchanged at 4.25%, hints at future cuts FX Street 2 years EUR/JPY extends the bearish note and trades in the mid-123.00s. Further south emerges the key contention area around 122.90. EUR/JPY remains under heavy downside pressure and it has broken below the 3-month support line in the 123.70/75 band. The bearish impulse is gathering extra steam and a convincing breakdown of this support line should expose a test of the major contention area around 122.90, where coincide the January peaks and the late-July lows. The next critical target on the downside emerges at the 200-day SMA at 120.84. Below this area, the outlook on the cross is expected to shift to… 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.
