EUR/JPY Price Analysis: Next downside target comes at 133.87

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  • EUR/JPY corrects sharply lower and challenges 134.00.
  • A further drop could lead to a test at the 55-day mean.

EUR/JPY extends the weekly move lower and revisits the 134.00 region thanks to the resurgence of risk aversion in the financial markets.

The continuation of the downtrend should find temporary support at the 55-day and 100-day SMAs at 133.87 and 132.27, respectively, on the short-term horizon. To the downside, then the ever-relevant 200-day simple moving average emerges today at 131.00.

Meanwhile, if it remains above the 200 SMA, the outlook for the cross is expected to remain constructive.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today 133.86
Today’s Daily Change -2.79
Today’s Daily Change % -2.04
Today’s Daily Opening 136.65
Trends
20 Daily SMA 137.24
50 Daily SMA 134.29
100 Daily SMA 132.25
200 Daily SMA 131.01
levels
Previous Daily High 137.71
Previous Daily Minimum 136.18
Previous Maximum Weekly 138.16
Previous Weekly Minimum 136.52
Monthly Prior Maximum 140
Previous Monthly Minimum 134.3
Daily Fibonacci 38.2% 136.77
Daily Fibonacci 61.8% 137.13
Daily Pivot Point S1 135.99
Daily Pivot Point S2 135.32
Daily Pivot Point S3 134.46
Daily Pivot Point R1 137.51
Daily Pivot Point R2 138.37
Daily Pivot Point R3 139.04

Source: Fx Street

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