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EUR/JPY Technical Analysis: Rising bets for a visit to 120.80

  • The cross is extending the leg lower on the back of the pick up in the demand for the safe haven JPY and is now putting the 121.00 handle to the test.
  • EUR/JPY continues to grind lower and is expected to re-test June low in the 120.80 region ahead of YTD lows in the sub-119.00 region recorded back in January.
  • In the broader picture, while below the immediate resistance line, today at 122.45, the outlook on the cross is seen negative.

EUR/JPY daily chart

 

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