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November 8, 2024

EUR/JPY drops to two-week low around mid-164.00s, lacks follow-through selling

The EUR/JPY cross remains under some selling pressure for the second successive day and drops to a two-week low, around mid-164.00s during the Asian session on Friday. The downfall is sponsored by a combination of factors and drags spot prices back below a technically significant 200-day Simple Moving Average (SMA).

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