EUR/JPY Price Analysis: A drop towards the 200-day MA is expected

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  • EUR/JPY continues to lose ground and breaks the 142.00 level.
  • The next support is at the 200-day moving average, near 140.80.

EUR/JPY extends the weekly decline and on Wednesday breaks below the key support of 142.00, anchoring two-day lows.

Should the decline accelerate, the next support to watch is the 200-day SMA at 140.79 today. A sustainable drop below this last level would expose the cross to further weakness to initially the 138.00 area.

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The constructive outlook for the EUR/JPY looks unchanged to remain above the 200-day SMA for now.

EUR/JPY day chart

USD/JPY

Overview
Last price today 141.36
Today I change daily 111
today’s daily variation -0.19
today’s daily opening 141.63
Trends
daily SMA20 140.45
daily SMA50 142.34
daily SMA100 143.16
daily SMA200 140.82
levels
previous daily high 142.21
previous daily low 141.26
Previous Weekly High 141.69
previous weekly low 137.92
Previous Monthly High 146.73
Previous monthly minimum 138.8
Fibonacci daily 38.2 141.62
Fibonacci 61.8% daily 141.84
Daily Pivot Point S1 141.19
Daily Pivot Point S2 140.75
Daily Pivot Point S3 140.24
Daily Pivot Point R1 142.14
Daily Pivot Point R2 142.65
Daily Pivot Point R3 143.09
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Source: Fx Street

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