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EUR/JPY Price Analysis: Door open for a move to 119.00 (and below)

  • EUR/JPY saw its downside intensified on Friday and broke below 120.00.
  • Further downside could see the YTD low in the mid-118.00s re-visited.

EUR/JPY is suffering the increased JPY-buying amidst persistent demand for the safe haven universe, always in response to the panic surrounding the COVID-19.

Following the breach of the key 200-day SMA, the cross has shifted the focus to the likelihood of further retracements.

Against this backdrop, a move to the area of 2020 lows near 118.50 should not be ruled out in the short-term horizon.

EUR/JPY daily chart

 

France's Montchalin: Possible to reach deal with the UK by end of year

"We will be vigilant to ensure that the US does noted degrade the Withdrawal Agreement," French European Affairs Minister Amelie de Montchalin said on
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India FX Reserves, USD rose from previous $476.09B to $476.12B in February 21

India FX Reserves, USD rose from previous $476.09B to $476.12B in February 21
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