EUR/JPY remains on the defensive and breaches 136.00. Further decline could see the 200-day SMA retested. EUR/JPY adds to to Friday’s pullback and breaks below the 136.00 yardstick on Monday. In case bears push harder, then the cross could attempt another visit to the key 200-day SMA at 133.92 prior to the August low at 133.39 (August 2).
While above the 200-day SMA, the prospects for the pair should remain constructive.
EUR/JPY remains on the defensive and breaches 136.00. Further decline could see the 200-day SMA retested. EUR/JPY adds to to Friday’s pullback and breaks below the 136.00 yardstick on Monday.
In case bears push harder, then the cross could attempt another visit to the key 200-day SMA at 133.92 prior to the August low at 133.39 (August 2). While above the 200-day SMA, the prospects for the pair should remain constructive.