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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

 

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