Extra weakness could revisit the sub-141.00 area

  • November 11, 2022
  • EURJPY adds to the weekly leg lower and breaks below 143.00.
  • Next on the downside now comes the October lows near 140.90.

EURJPY accelerates its decline and breaches the key support at 143.00 the figure so far on Friday.

The cross seems to have embarked on a corrective phase and the continuation of this stance could now extend to the October low near 140.90, an area coincident with the 3-month support line (off the August low).

In the longer run, while above the key 200-day SMA at 138.08, the constructive outlook is expected to remain unchanged.

EURJPY daily chart