EUR/JPY Price Analysis: Corrective downside could see 137.80 retested

EUR/JPY drops further and breaches 141.00 to multi-session lows.
Next on the downside comes the June low at 137.86 (June 15).

Pablo Piovano FXStreet

EUR/JPY comes under further selling pressure and prints new 2-week lows in the sub-141.00 region on Friday.

Despite the ongoing correction, the bullish bias in the cross remains well in place as long as the support line around 138.70 holds the downside. This area of contention is currently reinforced by the 55-day SMA.

The current bearish move, however, carries the potential to revisit the June low at 137.86 recorded on June 15, where it is expected to hold the downside.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	140.97
Today Daily Change	162
Today Daily Change %	-0.86
Today daily open	142.2

Trends
Daily SMA20	141.97
Daily SMA50	138.73
Daily SMA100	135.53
Daily SMA200	132.82

Levels
Previous Daily High	142.86
Previous Daily Low	141.38
Previous Weekly High	144.24
Previous Weekly Low	141.39
Previous Monthly High	144.28
Previous Monthly Low	137.93
Daily Fibonacci 38.2%	141.94
Daily Fibonacci 61.8%	142.3
Daily Pivot Point S1	141.43
Daily Pivot Point S2	140.66
Daily Pivot Point S3	139.94
Daily Pivot Point R1	142.91
Daily Pivot Point R2	143.63
Daily Pivot Point R3	144.4

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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