EUR/JPY: ideas from SEB Bank
EUR/JPY is testing support of the 55-day MA at 140.60 ahead of the 100-day MA in the 140.00 area.
Analysts at SEB Bank point out that the pair’s advance in February-March consists of 3 waves and that’s the reason to consider it a correction. The specialists observe the bearish flag and say that EUR/JPY slid below its lower border. In their view, if the pair closes below 140.46, it will confirm a larger step lower towards 135.00/134.00.
Chart. Daily EUR/JPY