Decent contention remains near 161.20

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<li><strong>EUR/JPY prints humble gains in the 162.10/20 band midweek.</strong></li>
<li><strong>Extra decline could see the 161.20 region revisited in the short term.</strong></li>
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<p><a href="https://www.fxstreet.com/rates-charts/eurjpy" target="_blank" rel="noopener"><strong>EUR/JPY</strong></a> sets aside two daily pullbacks in a row and manages to bounce off earlier lows in the 161.50 area on Wednesday.</p>
<p>The continuation of the downward bias carries the potential to drag the cross to the weekly low of 161.20/25 band (November 21) prior to the provisional 55-day SMA, today at 159.45.</p>
<p>So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.46.</p>
<h2>EUR/JPY daily chart</h2>
<h2><a href="https://editorial.fxstreet.com/miscelaneous/Screenshot%202023-11-29%20at%2013.00.41-638368560462615399.png" target="_blank" rel="noopener"><img decoding="async" src="https://editorial.fxstreet.com/miscelaneous/Screenshot%202023-11-29%20at%2013.00.41-638368560462615399.png" style="width: 995;height: 729;" /></a></h2>
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<br /><a href="https://www.fxstreet.com/news/eur-jpy-price-analysis-decent-contention-remains-near-16120-202311291201">Source link </a></p><p>The post <a href="https://forextraderhub.com/decent-contention-remains-near-161-20.html">Decent contention remains near 161.20</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>