EUR/JPY Price Analysis: Further range bound in store

EUR/JPY extends further the consolidative mood around 141.00.
The 200-day SMA keeps holding the downside for the time being.

Pablo Piovano FXStreet

EUR/JPY maintains the side-lined trading well in place around the 141.00 region for yet another session on Wednesday.

Extra consolidation should not be ruled out in the very near term. In case the downside accelerates, the next support of note emerges at the 200-day SMA, today at 140.90. A sustainable drop below the latter exposes extra weakness to, initially, the 138.00 neighbourhood. On the upside, the breakout of the weekly low at 142.29 (January 25) could open the door to a potential test of the key resistance area around 143.00.

The constructive outlook for EUR/JPY is seen unchanged above the 200-day SMA for the time being.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	141.43
Today Daily Change	77
Today Daily Change %	-0.04
Today daily open	141.48

Trends
Daily SMA20	140.68
Daily SMA50	141.97
Daily SMA100	143.04
Daily SMA200	140.91

Levels
Previous Daily High	141.62
Previous Daily Low	140.74
Previous Weekly High	142.3
Previous Weekly Low	140.47
Previous Monthly High	142.86
Previous Monthly Low	137.39
Daily Fibonacci 38.2%	141.08
Daily Fibonacci 61.8%	141.29
Daily Pivot Point S1	140.95
Daily Pivot Point S2	140.41
Daily Pivot Point S3	140.07
Daily Pivot Point R1	141.82
Daily Pivot Point R2	142.16
Daily Pivot Point R3	142.69

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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