EUR/JPY Price Analysis: Downtrend could test the 55-day SMA near 125.00

EUR/JPY adds to the weekly leg lower below 126.00.
Further south aligns the 55-day SMA at 125.12.

Pablo Piovano FXStreet

EUR/JPY extends the downtrend below the 126.00 mark on Friday, losing ground for the sixth consecutive session at the same time.

The continuation of the selling bias should expose a potential test of the 125.00 neighbourhood in the near-term, where coincide the 55-day SMA (125.12) and October/November tops.

Looking at the broader picture, while above the 200-day SMA at 122.69 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	125.76
Today Daily Change	55
Today Daily Change %	-0.31
Today daily open	126.15

Trends
Daily SMA20	126.52
Daily SMA50	125.54
Daily SMA100	124.8
Daily SMA200	122.77

Levels
Previous Daily High	126.53
Previous Daily Low	125.93
Previous Weekly High	127.49
Previous Weekly Low	126.05
Previous Monthly High	127.24
Previous Monthly Low	124.38
Daily Fibonacci 38.2%	126.16
Daily Fibonacci 61.8%	126.3
Daily Pivot Point S1	125.88
Daily Pivot Point S2	125.61
Daily Pivot Point S3	125.28
Daily Pivot Point R1	126.48
Daily Pivot Point R2	126.8
Daily Pivot Point R3	127.07

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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