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EUR/JPY Price Analysis: Near-Term Outlook Turns Negative

  • EUR/JPY suffered a sharp decline on Wednesday below the 141.00 zone.
  • The next downside target is the year low near 137.40.

He USD/JPY remains defensive and returns to the area below 141.00 after the previous move higher to the 141.55/60 band on Thursday.

The sharp retracement could now prompt the cross to revisit the March low at 139.48 (March 15), while a break of the latter could trigger a likely visit to the 2023 low at 137.38 (Jan 3) to emerge on The horizon.

In the meantime, further losses are expected as the cross trades below the 200-day SMA.

EUR/JPY daily chart

EUR/JPY Technical Levels


Last Price Today 140.1
Today’s Daily Change -1.00
Today’s Daily Change % -0.71
Today’s Daily Open 141.1
20 Daily SMA 143.83
SMA of 50 Daily 142.13
SMA of 100 Daily 142.96
SMA of 200 Daily 141.81
Previous Daily High 144.96
Minimum Previous Daily 139.48
Previous Weekly High 145.44
Previous Weekly Minimum 143.35
Maximum Prior Monthly 145.47
Minimum Prior Monthly 139.55
Daily Fibonacci 38.2% 141.58
Daily Fibonacci 61.8% 142.87
Daily Pivot Point S1 138.74
Daily Pivot Point S2 136.37
Daily Pivot Point S3 133.25
Daily Pivot Point R1 144.22
Daily Pivot Point R2 147.33
Daily Pivot Point R3 149.7

Source: Fx Street

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