EUR/JPY Price Analysis: The upside remains limited by the 143.00 zone

EUR/JPY corrects sharply lower and breaks below 141.00.
The 143.00 zone (28 Dec high) remains a tough hurdle for the bulls.

EUR/JPY notably reverses four consecutive daily advances and returns below 141.00 after being rejected from the vicinity of 143.00 on Wednesday.

Despite the ongoing bullish momentum, the short-term rally is still favored. Against, the immediate bullish barrier appears at the weekly high of 142.93 (December 28), which seems reinforced by the proximity to the 100-day simple moving average (SMA), today at 143.09.

The outlook for EUR/JPY should remain positive as long as it holds above the 200-day SMA at 140.65.

EUR/JPY day chart

USD/JPY

Overview
Last price today	140.9
Today I change daily	173
today’s daily variation	-1.14
today’s daily opening	142.52

Trends
daily SMA20	141.58
daily SMA50	143.3
daily SMA100	143.08
daily SMA200	140.66

levels
previous daily high	142.86
previous daily low	141.82
Previous Weekly High	141.45
previous weekly low	137.39
Previous Monthly High	146.73
Previous monthly minimum	138.8
Fibonacci daily 38.2	142.46
Fibonacci 61.8% daily	142.22
Daily Pivot Point S1	141.94
Daily Pivot Point S2	141.37
Daily Pivot Point S3	140.91
Daily Pivot Point R1	142.98
Daily Pivot Point R2	143.43
Daily Pivot Point R3	144.01

Source: Fx Street

Joshua

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.