The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( fxtechstrategy.com) -- Having broken and held below key supports at the medium-term trendline of 107.75 and the daily exponential moving average of 106.79, the risk is for EUR-JPY to weaken further in the days ahead.
This development will leave the cross targeting the 105.63 level, its March 6 low. A breach of here will pave the way for a push further lower toward the Dec. 9 high of 104.49, and then the 103.27 level. Its daily and weekly RSI are bearish and pointing lower supporting this view.