FX.co ★ EUR/JPY: level of 143.27 seen as key downside obstacle

EUR/JPY strong sellers

The EUR/JPY pair dropped again after failing to reach the 145.00 psychological level or to approach the downtrend line. At the time of writing, it was trading at 143.55 and was about to reach the 143.27 former low, which represents a downside obstacle.

After dropping below the uptrend line, the EUR/JPY pair signaled that the upside movement ended and that sellers could take full control.

EUR/JPY trading conclusion

A drop below 143.27 activates more declines. This is seen as a new selling chance.