- EUR/JPY extends the bearish leg towards the 130.40 area.
- The 200-day average remains weak for the time being.
The EUR/JPY continues to decline and browse in the minimum four weeks in the region of 130.40 on Friday.
At the end of the week, the cross turns around the 55-day SMA at the 130.50 zones, while a dip below this area should expose another visit to the critical 200-day SMA around 130.40. This support area continues to be supported by the proximity to a Fibonacci retracement (from the October rally) near 130.30.
Below the 200-day SMA, the outlook for the crossover is expected to turn bearish.
EUR / JPY day chart
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