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EUR/JPY Price Analysis: Change of direction could retest 142.50

  • EUR/JPY adds to the corrective downside and breaches 144.00.
  • The continuation of the leg lower could revisit 142.50.

EUR/JPY corrects further south and briefly tests the 143.60 region on Thursday, or multi-session lows.

The cross reversed the strong rebound soon after trespassing the 146.00 mark on Wednesday and sparked quite a marked reversal. That said, further weakness could now motivate EUR/JPY to slip back to the November low at 142.54 (November 11) sooner rather than later.

In the longer run, while above the key 200-day SMA at 138.68, the positive outlook is expected to remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price144.16
Today Daily Change156
Today Daily Change %-0.65
Today daily open145.1
 
Trends
Daily SMA20145.46
Daily SMA50144.16
Daily SMA100141.43
Daily SMA200138.66
 
Levels
Previous Daily High146.14
Previous Daily Low144.64
Previous Weekly High145.55
Previous Weekly Low143.35
Previous Monthly High148.4
Previous Monthly Low140.9
Daily Fibonacci 38.2%145.21
Daily Fibonacci 61.8%145.56
Daily Pivot Point S1144.45
Daily Pivot Point S2143.79
Daily Pivot Point S3142.95
Daily Pivot Point R1145.95
Daily Pivot Point R2146.79
Daily Pivot Point R3147.45

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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