EUR/JPY Price Analysis: Further losses target 157.70

EUR/JPY breaks below the 159.00 support on Tuesday.
Extra pullbacks could see the 157.70 region revisited.

Pablo Piovano FXStreet

EUR/JPY retreats for the seventh session in a row and breaches the key support at 159.00 the figure on Tuesday.

The continuation of the downward bias appears on the cards for the time being. Against that, the loss of the provisional 100-day SMA at 158.66 could pave the way for a move to the minor support at the weekly low of 157.69 (October 30) prior to the October low of 154.34 (October 3).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.78.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.96
Today Daily Change	114
Today Daily Change %	-0.38
Today daily open	159.57

Trends
Daily SMA20	162.19
Daily SMA50	159.82
Daily SMA100	158.68
Daily SMA200	153.76

Levels
Previous Daily High	159.84
Previous Daily Low	158.71
Previous Weekly High	163.72
Previous Weekly Low	159.65
Previous Monthly High	164.31
Previous Monthly Low	159.07
Daily Fibonacci 38.2%	159.15
Daily Fibonacci 61.8%	159.41
Daily Pivot Point S1	158.91
Daily Pivot Point S2	158.25
Daily Pivot Point S3	157.78
Daily Pivot Point R1	160.04
Daily Pivot Point R2	160.51
Daily Pivot Point R3	161.17

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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