- 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.
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
|Last price today||144.16|
|Today I change daily||156|
|today’s daily variation||-0.65|
|today’s daily opening||145.1|
|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