- 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
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.