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EUR/JPY Price Analysis: Further losses look likely

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  • EUR/JPY comes under extra pressure and approaches 161.00.
  • Immediately to the downside now comes the 55-day SMA.

EUR/JPY retreats for the fourth session in a row and visits multi-session lows near 161.20 on Tuesday.

Further downside appears well on the cards for the cross in the short-term horizon.

That said, losses could then accelerate to the provisional 55-day SMA at 158.93 ahead of the interim 100-day SMA at 158.07.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.88.

EUR/JPY daily chart

 

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