US Dollar To Yen (USD/JPY): The Continuation Of The Decline
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EUR/JPY Price Analysis: Further downside not ruled out
- EUR/JPY adds to Tuesday’s pullback below the 143.00 yardstick.
- The 138.80 region should offer decent support near term.
EUR/JPY extends the corrective downside for the second session in a row and breaches the 143.00 mark on Wednesday.
The ongoing knee-jerk is not surprising considering the bearish divergence in the daily RSI. That said, the continuation of the decline could extend to the 138.80 zone, where the 55- and 100-day SMAs coincide.
In the meantime, while above the 200-day SMA at 135.08, the prospects for the pair should remain constructive.
EUR/JPY daily chart
