EUR/JPY Technical Analysis: bearish ‘outside day’ could prompt a move to the 100-day SMA near 119.60

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  • EUR/JPY charted a bearish ‘outside candle’ on Thursday as well as weekly lows near 120.30.
  • The next target on the downside emerges at the 120.00 neighbourhood ahead of the 100-day SMA, today at 119.65. Below this level, the upside pressure is expected to subside.
  • The resumption of the bullish mood should take the cross back to the mid-121.00s ahead of a probable visit of the 200-day SMA just above 122.00 the figure.

EUR/JPY daily chart

 

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