EUR/JPY comes under extra pressure and approaches 161.00

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

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 favored while above the 200-day SMA, today at 152.88.

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