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15 Mar 2023

EUR/JPY Price Analysis: Outsized pullback shifts the attention to the downside

  • EUR/JPY drops heavily and breaks below the key 200-day SMA.
  • Further weakness could see the February low revisited near term.

The abrupt sell-off forces EUR/JPY to break below the 141.00 mark and leave behind the key 200-day SMA at 141.77 at the same time.

The sharp retracement could now motivate the cross to challenge the February low at 139.54 (February 10), while the breach of the latter could put a potential drop to the 2023 low at 137.38 (January 3) back on the radar.

Below the 200-day SMA the outlook for the cross is expected to shift to negative.

EUR/JPY daily chart

 

Mar 15, 2023

USD/JPY: Quite volatile over near term, before showing clearer signs of a downtrend from mid-year – HSBC

USD/JPY will likely remain volatile over the near term. Economists at HSBC modify their USD/JPY forecasts for the upcoming quarters but maintain their
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Mar 15, 2023

United States Retail Sales Control Group registered at 0.5% above expectations (-1.2%) in February

United States Retail Sales Control Group registered at 0.5% above expectations (-1.2%) in February
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