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

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.

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

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.