The EUR/JPY has recovered from its lows in the mid-129.00s.
Above 132.70, the downward pressure was relieved.
On Thursday, the EUR/negative JPY’s trend appeared to have found early resistance near the 129.50 level. This support zone corresponds to the April lows.
The 100-day SMA is just above 131.00, the 20-day SMA is near 131.70, and the so far July peaks are around 132.40, therefore the rebound should continue (July 1).
Beyond weekly highs at 132.70, the current bearish posture is projected to moderate (June 23).
Meanwhile, the cross’s prognosis is positive as long as it trades above the 200-day SMA, which is now at 128.15./n
