EUR/JPY Price Analysis: Losses Could Accelerate To 138.00 Near Term
- EUR/JPY comes under further pressure below the 200-day SMA.
- The continuation of the downtrend could see the 138.00 region revisited.
EUR/JPY reverses the recent 2-day bounce and drops to 3-week lows in the 139.50 zone at the end of the week.
While the cross is expected to maintain the side-lined theme in the short term, a convincing breakdown of the 200-day SMA at 141.03 should open the taps to extra weakness with the immediate target at the contention zone around 138.00.
In the meantme, below the 200-day SMA, the outlook for the cross is expected to remain bearish.
EUR/JPY daily chart
(Click on image to enlarge)
EUR/JPY
| OVERVIEW | |
|---|---|
| Today last price | 140.11 |
| Today Daily Change | 196 |
| Today Daily Change % | -0.83 |
| Today daily open | 141.28 |
| TRENDS | |
|---|---|
| Daily SMA20 | 140.73 |
| Daily SMA50 | 141.6 |
| Daily SMA100 | 142.94 |
| Daily SMA200 | 141.06 |
| LEVELS | |
|---|---|
| Previous Daily High | 141.38 |
| Previous Daily Low | 140.46 |
| Previous Weekly High | 142.34 |
| Previous Weekly Low | 139.93 |
| Previous Monthly High | 142.86 |
| Previous Monthly Low | 137.39 |
| Daily Fibonacci 38.2% | 141.02 |
| Daily Fibonacci 61.8% | 140.81 |
| Daily Pivot Point S1 | 140.7 |
| Daily Pivot Point S2 | 140.12 |
| Daily Pivot Point S3 | 139.78 |
| Daily Pivot Point R1 | 141.61 |
| Daily Pivot Point R2 | 141.95 |
| Daily Pivot Point R3 | 142.53 |
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