EUR/JPY Price Analysis: Scope for a drop to 117.00

EUR/JPY dropped further to sub-119.00 levels, fresh 2020 lows.
The next support emerges at the October 2019 low at 117.07.

The bearish note around EUR/JPY remains unchanged for the time being, encouraging the cross to breach the key support at 119.00 the figure.

While below the key 200-day SMA, today at 120.46, the outlook on the cross is expected to remain negative.

Against this backdrop, the immediate support emerges at the October 2019 low at 117.07.

EUR/JPY dail;y chart

Feb 14, 2020

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