EUR/JPY Price Analysis: Downside pressure alleviated above the 200-day SMA

EUR/JPY manages to grab some upside traction above 139.00.
Next on the upside for the cross appears the 200-day SMA.

Pablo Piovano FXStreet

EUR/JPY gathers some much needed steam and reclaims the 139.00 hurdle and beyond at the beginning of the week.

The recent pronounced correction in the cross seems to have met some contention around the 138.00 neighbourhood. If the rebound picks up a more sustainable pace, then the next target of note turns up at the key 200-day SMA, today at 140.68.

Above the latter, the selling bias is expected to mitigate and could shift the outlook to a more constructive one.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	139.1
Today Daily Change	104
Today Daily Change %	0.40
Today daily open	138.54

Trends
Daily SMA20	140.96
Daily SMA50	143.07
Daily SMA100	143.14
Daily SMA200	140.7

Levels
Previous Daily High	140.44
Previous Daily Low	138.01
Previous Weekly High	142.86
Previous Weekly Low	138.01
Previous Monthly High	146.73
Previous Monthly Low	138.8
Daily Fibonacci 38.2%	138.94
Daily Fibonacci 61.8%	139.51
Daily Pivot Point S1	137.55
Daily Pivot Point S2	136.57
Daily Pivot Point S3	135.13
Daily Pivot Point R1	139.98
Daily Pivot Point R2	141.42
Daily Pivot Point R3	142.4

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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