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- EUR/JPY Price Analysis: Next on the downside comes 161.20
EUR/JPY Price Analysis: Next on the downside comes 161.20
- EUR/JPY adds to the negative start of the week and tests 162.20.
- Further losses could revisit the 161.20 zone in the near term.
EUR/JPY corrects further down and drops to four-day lows around 162.20 on Tuesday.
The continuation of the downward bias carries the potential to drag the cross to the weekly low of 161.20/25 band (November 21) prior to the provisional 55-day SMA, today at 159.40.
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.37.
EUR/JPY daily chart
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