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EUR/JPY Price Analysis: More upside seen on close above 140.00

  • 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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