EUR/JPY Price Analysis: Further downside still on the cards

EUR/JPY trades mildly on the defensive near 139.00.
Further consolidation could be on the cards in the near term.

Pablo Piovano FXStreet

EUR/JPY struggles to extend the rebound further north of the daily highs around 139.50 on Tuesday.

Despite the bounce off recent lows, further decline should not be ruled out just yet, particularly against prospects for further weakness in the euro and the spectre of more FX intervention by the BoJ/MoF.

That said, a deeper pullback to the 200-day SMA, today at 135.66, still appears in the pipeline in the very near term at least.

EUR/JPY daily charts

EUR/JPY

Overview
Today last price	138.9
Today Daily Change	84
Today Daily Change %	-0.14
Today daily open	139.09

Trends
Daily SMA20	141.75
Daily SMA50	139.19
Daily SMA100	139.21
Daily SMA200	135.65

Levels
Previous Daily High	139.52
Previous Daily Low	137.38
Previous Weekly High	144.04
Previous Weekly Low	138.67
Previous Monthly High	139.73
Previous Monthly Low	133.4
Daily Fibonacci 38.2%	138.71
Daily Fibonacci 61.8%	138.2
Daily Pivot Point S1	137.81
Daily Pivot Point S2	136.53
Daily Pivot Point S3	135.67
Daily Pivot Point R1	139.95
Daily Pivot Point R2	140.81
Daily Pivot Point R3	142.09

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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