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EUR/JPY Price Analysis: Risk further downside to the 116.10 area

  • EUR/JPY dropped and rebounded from the mid-116.00s.
  • The next target now emerges at the YTD lows in the vicinity of 116.00.

After printing multi-week tops beyond 121.00 the figure last week, EUR/JPY sold off to Thursday’s low near 116.35, where some support appears to have turned up.

The outlook remains fragile, however, and if the selling impetus picks up pace, then the door will open for a visit to the 2020 low at 116.11 recorded in early March.

Looking at the broader picture, while below the key 200-day SMA at 119.91, the cross should keep the negative stance unaltered. A more serious rally is expected to surpass tops beyond 121.00 the figure.

EUR/JPY daily chart

 

South Korea FX Reserves: 400.21B (March) vs previous 409.17B

South Korea FX Reserves: 400.21B (March) vs previous 409.17B
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US Dollar Index Price Analysis: A visit to 2020 highs near 103.00 stays on the cards

DXY is extending the positive momentum beyond the 100.00 mark, quickly taking out the interim hurdle at the Fibo retracement at 100.49. Bulls keep dom
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