7 Jul 2021
EUR/JPY Price Analysis: Further weakness on the cards
- EUR/JPY accelerates the weekly losses and breaches 131.00.
- Next on the downside comes in the 130.00 neighbourhood.
The downside momentum in EUR/JPY picks up extra pace and motivates the cross to break below the key support at 131.00 on Wednesday.
The continuation of the downtrend could now extend further and attempt to re-visit the psychological 130.00 zone, where sits the June lows.
In the broader picture, while above the 200-day SMA at 128.09 the broader outlook for the cross should remain constructive.
EUR/JPY daily chart
