EUR/JPY Price Analysis: A change in direction could lead to a retest of 142.50

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  • EUR/JPY adds to the downward correction and breaks 144.00.
  • The continuation of the lower leg could revisit 142.50.

EUR/JPY corrects lower and briefly tests the 143.60 area on Thursday, or multi-session lows.

The cross reversed the strong bounce shortly after breaching the 146.00 area on Wednesday and triggered quite a sharp reversal. That being said, further weakness could cause EUR/JPY to drop back to the November low at 142.54 (11 Nov) sooner rather than later.

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Longer-term, as long as it is above the key 200-day SMA at 138.68, the positive outlook is expected to hold.

EUR/JPY day chart

USD/JPY

Overview
Last price today 144.16
Today I change daily 156
today’s daily variation -0.65
today’s daily opening 145.1
Trends
daily SMA20 145.46
daily SMA50 144.16
daily SMA100 141.43
daily SMA200 138.66
levels
previous daily high 146.14
previous daily low 144.64
Previous Weekly High 145.55
previous weekly low 143.35
Previous Monthly High 148.4
Previous monthly minimum 140.9
Daily Fibonacci of 38.2% 145.21
Daily Fibonacci of 61.8% 145.56
Daily Pivot Point S1 144.45
Daily Pivot Point S2 143.79
Daily Pivot Point S3 142.95
Daily Pivot Point R1 145.95
Daily Pivot Point R2 146.79
Daily Pivot Point R3 147.45

Source: Fx Street

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