After 13 weeks, the price on the chart of the EUR/JPY currency pair managed to record the latest lows again with the price decline continuing at the beginning of the Asian session this morning (Friday).
The yen remains dominant over the Euro with market sentiment still risking giving an advantage to safe-haven trading.
The latest report earlier this morning, a nuclear power plant in Ukraine was attacked by Russia until the Ukrainian Foreign Minister urged Russia to stop the attack to allow firefighters to put out the fire.
A possible accident will not only be a disaster for Ukraine, but also have an impact on the world.
Examining the price movement on the previous EUR/JPY chart, the 127.400 level became a price -tested support since the beginning of the week again after making a decline.
Investors also evaluate price movements in a bearish trend where the price remains below the Moving Average 50 (MA50) barrier level on the 1 -hour time frame.
But the risk of a resurgence in the Asian session this morning with reports of an attack on Europe's largest nuclear plant has pushed the price lower past the 127.400 support.
The price reached the level of 127.00 with the expectation that further decline in the price will continue towards the support zone of 126.00.
But beware if a change in market sentiment takes place this weekend, the price could create a surprise to rebound.
The price increase is seen to test some important levels such as the 128.00 level and the SBR (support become resistance) zone at 129.500.
The next SBR zone at 130.700 will be the next target for the price increase which is successfully continued after the change in the bullish trend.
