Markets

EUR/JPY Price Analysis: Further losses below 136.85 likely

July 28, 2022
11:25 AM

EUR/JPY accelerates decline below 138.00 on Thursday.
Immediately to the downside now comes the July low at 136.85.

EUR/JPY quickly pulls back to 2-week lows well below 138.00 on Thursday.

The cross remains under pressure and is vulnerable to further decline while below the weekly high of 142.32 (July 21). Against this, the next support to watch lines up at the July low at 136.85 (July 8). If it breaks sustainably, the cross could attempt a move towards the critical 200 SMA today at 133.65.

In the long term, the constructive stance on the cross remains well supported by the 200-day simple moving average at 133.65.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today	137.37
Today’s Daily Change	-1.92
Today’s Daily Change %	-1.38
Today’s Daily Opening	139.29

Trends
20 Daily SMA	139.52
50 Daily SMA	139.87
100 Daily SMA	137.48
200 Daily SMA	133.66

levels
Previous Daily High	139.5
Previous Daily Minimum	138.44
Previous Maximum Weekly	142.32
Previous Weekly Minimum	138.78
Monthly Prior Maximum	144.28
Previous Monthly Minimum	137.93
Daily Fibonacci 38.2%	139.1
Daily Fibonacci 61.8%	138.84
Daily Pivot Point S1	138.65
Daily Pivot Point S2	138.01
Daily Pivot Point S3	137.58
Daily Pivot Point R1	139.72
Daily Pivot Point R2	140.14
Daily Pivot Point R3	140.78

Source: Fx Street

Flora

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