Trades below 116.00
The EURJPY is trading at low levels for the day. The pair is trading below the 116.00 level. The low yesterday dipped below 116.00 to 115.92 but moved back higher. Today, the first look below also failed, but this last break is showing more momentum. The low comes in at 115.714.
Looking at the daily chart, the pair moved below - and away- from the 200 day MA and an upward trend line. The next targets look toward 115.41 (lower trend line) and then the 61.8% of the move up from the June 2016 low. That comes in at 115.085.
Stay below the 115.92-116.00 now keeps the sellers more in control.
