EUR/JPY Price Analysis: Extra losses appear on the cards

EUR/JPY intensifies the recent breach of the 126.00 mark.
In this selling context, further downside remains well on the table.

Pablo Piovano FXStreet

EUR/JPY extends the downtrend and approaches the 125.00 mark on Monday, extending the negative streak for the seventh session.

The ongoing leg lower met initial contention in the low-125.00s on Monday, area reinforced by the the 55-day SMA (125.17) and October/November tops. A breakdown of this region should expose the 100-day SMA at 124.75 ahead of the Fibo retracement (of the October-January rally) at 124.55.

Looking at the broader picture, while above the 200-day SMA at 122.72 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	125.18
Today Daily Change	41
Today Daily Change %	-0.22
Today daily open	125.46

Trends
Daily SMA20	126.46
Daily SMA50	125.6
Daily SMA100	124.8
Daily SMA200	122.8

Levels
Previous Daily High	126.22
Previous Daily Low	125.41
Previous Weekly High	127.11
Previous Weekly Low	125.41
Previous Monthly High	127.24
Previous Monthly Low	124.38
Daily Fibonacci 38.2%	125.72
Daily Fibonacci 61.8%	125.91
Daily Pivot Point S1	125.17
Daily Pivot Point S2	124.88
Daily Pivot Point S3	124.36
Daily Pivot Point R1	125.98
Daily Pivot Point R2	126.51
Daily Pivot Point R3	126.79

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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