EUR/JPY Price Analysis: Further downside could retest 136.85

EUR/JPY keeps the choppy trade well and sound so far this week.
A deeper pullback could visit the July low at 136.85.

Pablo Piovano FXStreet

EUR/JPY partially reverses Tuesday’s drop amidst the improvement in the risk-associated universe midweek.

The cross remains under pressure and is vulnerable to further decline while below the 4-month resistance line near 141.90. Against that, the 100-day SMA should offer temporary contention at 137.44 ahead of the July low at 136.85 (July 8).

In the longer run, the constructive stance in the cross remains well underpinned by the 200-day SMA at 133.62.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	138.65
Today Daily Change	65
Today Daily Change %	0.11
Today daily open	138.5

Trends
Daily SMA20	139.69
Daily SMA50	139.76
Daily SMA100	137.37
Daily SMA200	133.63

Levels
Previous Daily High	139.84
Previous Daily Low	138.13
Previous Weekly High	142.32
Previous Weekly Low	138.78
Previous Monthly High	144.28
Previous Monthly Low	137.93
Daily Fibonacci 38.2%	138.79
Daily Fibonacci 61.8%	139.19
Daily Pivot Point S1	137.81
Daily Pivot Point S2	137.12
Daily Pivot Point S3	136.1
Daily Pivot Point R1	139.52
Daily Pivot Point R2	140.53
Daily Pivot Point R3	141.23

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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