- EUR / JPY finds initial support in the 123.80 region so far.
- Immediately to the upside, the obstacle of 125.00 arises.
EUR / JPY extends Wednesday’s moderate pullback and finds initial containment at the 123.80 area so far on Thursday.
The 100-day SMA emerges lower at 123.50, which should offer additional support if the selling bias intensifies. Occasional bullish attempts, on the opposite side, need to regain the recent highs in the 125.00 neighborhood to enable more raises.
Meanwhile, remaining above the 200-day SMA at 121.09, the outlook on the crossover is expected to remain constructive.
EUR / JPY day chart
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
