Home EUR/JPY Technical Analysis: Correction lower could extend to March’s lows near 123.60

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EUR/JPY Technical Analysis: Correction lower could extend to March’s lows near 123.60

FX Street

Updated: 24 Apr. 2019 | 10:02

EUR/JPY is accelerating the leg lower after breaking below the 10-day SMA in the 126.00 neighbourhood in past sessions.
While the sentiment around the European currency remains sour, the cross could drop further and test the 123.60 region, where sits March’s low.
In the meantime, the cross needs to clear the multi-month resistance line, today ay 126.64, to alleviate downside pressure and refocus to recent tops near 127.00 the figure.

EUR/JPY daily chart

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