EUR/JPY Price Analysis: Extra losses could see the 2021 low retested

EUR/JPY adds to the recent pullback and retests 128.00.
Further south comes the August/September lows at 127.93.

Pablo Piovano FXStreet

EUR/JPY extends the leg lower and breaks below 128.00 to clinch fresh 9-month lows in the id-127.00s on Monday.

The continuation of the downtrend remains well on the cards for the time being. A sustainable breach of 127.48 (November 29) exposes a deeper pullback to the 2021 lows in the 125.00 neighbourhood (January 18).

Looking at the broader picture, the outlook for the cross is expected to remain negative while below the 200-day SMA, today at 130.54.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	128.08
Today Daily Change	109
Today Daily Change %	-0.01
Today daily open	128.09

Trends
Daily SMA20	130.29
Daily SMA50	130.51
Daily SMA100	130.08
Daily SMA200	130.59

Levels
Previous Daily High	129.34
Previous Daily Low	127.8
Previous Weekly High	129.6
Previous Weekly Low	127.8
Previous Monthly High	133.48
Previous Monthly Low	128.34
Daily Fibonacci 38.2%	128.39
Daily Fibonacci 61.8%	128.75
Daily Pivot Point S1	127.48
Daily Pivot Point S2	126.86
Daily Pivot Point S3	125.93
Daily Pivot Point R1	129.02
Daily Pivot Point R2	129.96
Daily Pivot Point R3	130.57

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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