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EUR/JPY Price Analysis: Risks remain to the upside

  • EUR/JPY fell sharply to two-week lows near 139.00.
  • A revisit to 2022 highs beyond 145.00 is not ruled out.

EUR/JPY adds to the weekly pullback and falls to multi-session lows near 139.00 following Bank of Japan and government intervention.

The cross found initial support around 139.00, where the 55 and 100 day simple moving averages coincide. However, the decline was not continued and caused a quick rebound to the 140.00 zone and beyond.

However, a further recovery should not be ruled out, and the cross continues to point to the yearly high of 145.63 (September 12) on a relatively short-term horizon.

In the meantime, if it remains above the 200 SMA at 135.51, the outlook for the cross should remain constructive.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today 140.76
Today’s Daily Change -0.99
Today’s Daily Change % -0.70
Today’s Daily Opening 141.75
Trends
20 Daily SMA 141.44
50 Daily SMA 139.2
100 Daily SMA 139.15
200 Daily SMA 135.49
levels
Previous Daily High 143.6
Previous Daily Minimum 141.64
Previous Maximum Weekly 145.64
Previous Weekly Minimum 142.3
Monthly Prior Maximum 139.73
Previous Monthly Minimum 133.4
Daily Fibonacci 38.2% 142.39
Daily Fibonacci 61.8% 142.85
Daily Pivot Point S1 141.06
Daily Pivot Point S2 140.37
Daily Pivot Point S3 139.1
Daily Pivot Point R1 143.02
Daily Pivot Point R2 144.29
Daily Pivot Point R3 144.98

Source: Fx Street

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