EUR/JPY Price Analysis: Corrective decline could retest 132.60

EUR/JPY regains some ground lost following Wednesday’s drop.
Further downside should meet contention near 132.60.

Pablo Piovano FXStreet

EUR/JPY advances modestly after Wednesday’s strong drop to the 134.00 neighbourhood.

Price action around the cross remains inconclusive and further decline should not be ruled out so far. That said, the May low at 132.65 (May 12) is expected to hold occasional bearish attempts in the short-term horizon prior to the temporary 100-day SMA, today at 132.50.

In the meantime, while above the 200-day SMA at 131.13, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	135.86
Today Daily Change	153
Today Daily Change %	-0.55
Today daily open	136.61

Trends
Daily SMA20	136.76
Daily SMA50	134.98
Daily SMA100	132.45
Daily SMA200	131.12

Levels
Previous Daily High	136.7
Previous Daily Low	134.5
Previous Weekly High	138.32
Previous Weekly Low	132.66
Previous Monthly High	140
Previous Monthly Low	134.3
Daily Fibonacci 38.2%	135.86
Daily Fibonacci 61.8%	135.34
Daily Pivot Point S1	135.17
Daily Pivot Point S2	133.73
Daily Pivot Point S3	132.97
Daily Pivot Point R1	137.37
Daily Pivot Point R2	138.14
Daily Pivot Point R3	139.57

Author

Pablo Piovano

FXStreet

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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