EUR/JPY forms a higher low
The uptrend with EUR/JPY took a knock over the past three weeks, but having been overextended to the upside in early July, it may now push higher once again.
The longer-term trend is still in place, with the drop below ¥166.00 having found buyers. A push to the 100-day SMA on Friday was knocked back, but overall the price looks like it is forming a higher low.
The price needs to clear the ¥167.70 area in order to make further gains, while a renewed short-term bearish view needs a close back below ¥165.00.
