- EUR / JPY finds support at the 121.60 area.
- Lower down is the 200-day SMA around 121.15.
The bearish tone of the EUR / JPY appears to have found significant containment at the 121.60 region.
The probability of further losses remains at levels of consideration. The initial target is at the 200-day SMA at the 121.10 / 15 band, a level that is key support for the bullish outlook on the cross.
On the other hand, a move to the 100-day SMA today at 123.56 could ease the downside pressure and allow another visit to the October high in the neighborhood of 125.00.
EUR / JPY day chart
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Credits: Forex Street
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