EUR/JPY Price Analysis: Further downside appears likely near term

EUR/JPY adds to Monday’s weakness and breaks below 136.00.
Next on the downside comes the April lows around 134.30.

Pablo Piovano FXStreet

EUR/JPY keeps correcting lower and breaches the 136.00 support to clinch new multi-day lows on Tuesday.

Further weakness remains well in place in the very near term. Against that, the corrective move in the cross could extend further and revisit the monthly lows around 134.30.

In the meantime, while above the 200-day SMA at 130.59, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	135.85
Today Daily Change	281
Today Daily Change %	-1.03
Today daily open	137.27

Trends
Daily SMA20	136.4
Daily SMA50	132.61
Daily SMA100	131.24
Daily SMA200	130.59

Levels
Previous Daily High	139.19
Previous Daily Low	136.49
Previous Weekly High	140
Previous Weekly Low	136.45
Previous Monthly High	137.54
Previous Monthly Low	124.39
Daily Fibonacci 38.2%	137.52
Daily Fibonacci 61.8%	138.16
Daily Pivot Point S1	136.11
Daily Pivot Point S2	134.94
Daily Pivot Point S3	133.4
Daily Pivot Point R1	138.81
Daily Pivot Point R2	140.36
Daily Pivot Point R3	141.52

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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