- EUR/JPY trades sub 123.00 .
- Support seen at 100-day SMA (122.18)
EUR/JPY trends lower, extending losses towards 122.90/80 on Tuesday.
Downward trend is well established and sent EUR/JPY to a 2 month low mid-122.00s at the start of the week. A meaningful move below this level could bring support at 122.20into focus, (100 day SMA).Beyond here the more important 200-day SMA,(120.86 today) comes into view..
Sub 200-day SMA the outlook becomes bearish.