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EUR/JPY Price Analysis: Further losses target the 154.00 area

  • EUR/JPY fails to extend the daily rebound north of 156.70.
  • Extra decline could revisit the 154.00 zone in the near term.

EUR/JPY could not sustain the earlier move to the 156.70 area and slipped back to the sub-156.00 region at the beginning of the week.

In the meantime, the cross maintains its rejection from last week’s YTD tops near the 158.00 area. Against this backdrop, further pullbacks should not be ruled out for the time being. That said, the door remains open for the cross to challenge the weekly low at 154.04 (June 20).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 145.64.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price155.69
Today Daily Change103
Today Daily Change %-0.12
Today daily open155.88
 
Trends
Daily SMA20155.63
Daily SMA50151.77
Daily SMA100148.14
Daily SMA200145.61
 
Levels
Previous Daily High156.93
Previous Daily Low155.38
Previous Weekly High157.96
Previous Weekly Low155.38
Previous Monthly High158
Previous Monthly Low148.62
Daily Fibonacci 38.2%155.98
Daily Fibonacci 61.8%156.34
Daily Pivot Point S1155.2
Daily Pivot Point S2154.52
Daily Pivot Point S3153.65
Daily Pivot Point R1156.75
Daily Pivot Point R2157.61
Daily Pivot Point R3158.3

Author

Pablo Piovano

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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