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

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

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

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.