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Further losses look likely

Short
Euro / Japanese Yen (FX:EURJPY)  
tradingconmike  
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Chart Patterns EURJPY eurjpyshort eurjpyanalysis eurjpysignal eurjpytrade
2
0
trendanalysis chartpattern eurjpy eurjpyshort eurjpyanalysis eurjpysignal eurjpytrade
EURJPY 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 favoured while above the 200-day SMA, today at 152.88.
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