OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY Price Analysis: Further downside could extend to 118.50

  • EUR/JPY comes under renewed downside pressure on Monday.
  • The next target now emerges at the February lows in the 108.50 region.

After printing multi-week tops beyond 121.00 the figure last Wednesday, EUR/JPY has come under selling pressure and is once again navigating the sub-120.00 zone.

The cross is prolonging the recent breakdown of the key 200-day SMA in the 120.00 region. The continuation of the selling bias should see the cross testing the mid-118.00s in the near term, where emerge the February lows.

As long as the 200-day SMA near 120.00, caps the upside, there is still scope for a deeper retracement.

EUR/JPY daily chart


WTI closes in on multi-year lows, trades around $20.50 on demand concerns

The barrel of West Texas Intermediate (WTI) posted losses for the sixth straight time last meek and is now looking to close the month of March more th
Read more Previous

Further easing from the RBI – UOB

Economist Barnabas Gan at UOB Group assessed the recent decision by the RBI to reduce rates amidst the ongoing coronavirus crisis. Key Quotes “The Res
Read more Next
Start livechat