- EUR/JPY starts a corrective decline just above 139.00.
- A further advance seems likely once 140.00 is broken.
EUR/JPY is under bearish pressure after three consecutive sessions of gains on Wednesday.
The continuation of the uptrend has the focus now on the key 140.00 level. Beyond this zone, the cross could attempt another test of the weekly high at 142.32 (July 21), which is seen as the last defense of the 2022 high at 144.27 (June 28).
As long as it is above the 200 SMA at 134.37, the outlook for the pair should remain constructive.
EUR/JPY day chart
|Last Price Today||138.54|
|Today’s Daily Change||-0.46|
|Today’s Daily Change %||-0.33|
|Today’s Daily Opening||139|
|20 Daily SMA||137.04|
|50 Daily SMA||138.66|
|100 Daily SMA||138.33|
|200 Daily SMA||134.36|
|Previous Daily High||139.22|
|Previous Daily Minimum||138.26|
|Previous Maximum Weekly||137.97|
|Previous Weekly Minimum||135.52|
|Monthly Prior Maximum||142.43|
|Previous Monthly Minimum||135.55|
|Daily Fibonacci 38.2%||138.85|
|Daily Fibonacci 61.8%||138.63|
|Daily Pivot Point S1||138.43|
|Daily Pivot Point S2||137.87|
|Daily Pivot Point S3||137.48|
|Daily Pivot Point R1||139.39|
|Daily Pivot Point R2||139.78|
|Daily Pivot Point R3||140.35|
Source: Fx Street
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