EUR/JPY Price analysis: Door open for a test of the 200-day moving average

  • EUR/JPY manages to reverse a sharp decline to 137.30.
  • The chances of a possible test of the 200-day average seem to be increasing.

EUR/JPY is now recovering lost ground and flirting with positive territory after pulling back sharply to the 137.30 area during early trading.

A continuation of the downtrend looks likely in the very short term, especially against the background of a weaker euro and the prospect of further FX market intervention by the Bank of Japan and the Ministry of Finance.

That said, a deeper pullback to the 200 SMA today at 135.61 should not be ruled out.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today 139.04
Today’s Daily Change 0.16
Today’s Daily Change % 0.12
Today’s Daily Opening 138.88
Trends
20 Daily SMA 141.73
50 Daily SMA 139.21
100 Daily SMA 139.2
200 Daily SMA 135.6
levels
Previous Daily High 140.26
Previous Daily Minimum 138.67
Previous Maximum Weekly 144.04
Previous Weekly Minimum 138.67
Monthly Prior Maximum 139.73
Previous Monthly Minimum 133.4
Daily Fibonacci 38.2% 139.28
Daily Fibonacci 61.8% 139.65
Daily Pivot Point S1 138.28
Daily Pivot Point S2 137.68
Daily Pivot Point S3 136.69
Daily Pivot Point R1 139.87
Daily Pivot Point R2 140.86
Daily Pivot Point R3 141.46

Source: Fx Street

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