EUR/JPY Price Analysis: Extra losses expected on a breach of the 200-day SMA
- The leg lower in EUR/JPY has intensified to the 120.80 region.
- Below this area the cross faces extra downside.
The downside in EUR/JPY has picked up extra pace on Friday and is now flirting with the key 200-day SMA in the 120.80 zone.
If the selling impetus gathers extra traction, then then 100-day SMA, today at 120.26 should return to the radar ahead of 2020 lows in the 120.20/15 band.
Below the 200-day SMA the negative outlook should be reinstated in the cross.
EUR/JPY daily chart