- EUR/JPY adds to Tuesday’s losses and revisits 157.00.
- A deeper decline could meet transitory support near 156.00.
EUR/JPY accelerates its downside momentum and drops to multi-day lows in the 157.00 neighbourhood on Wednesday.
In case the corrective retracement gathers further impulse, the cross could extend the move to the provisional 55-day SMA around 156.00, which should hold the initial test. South from here emerges the 100-day SMA near 152.50 prior to the July low of 151.40 (July 28).
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.51.
EUR/JPY daily chart
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