EUR/JPY Price Analysis: Further weakness not ruled out


  • EUR/JPY extends the decline to the vicinity of the 154.00 region.
  • The loss of the latter exposes the interim 55-day SMA near 151.70.

EUR/JPY accelerates its losses and trades at shouting distance from the 154.00 neighbourhood, or nearly 4-week lows, on Tuesday.

The cross extends further its monthly retracement and threatens to revisit the weekly low at 154.04 (June 20). The breach of this level could open the door to a deeper drop to, initially, the provisional 55-day SMA at 151.66.

The daily RSI around 48 still allows for the continuation of the downward move in the very near term.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 145.69.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 154.35
Today Daily Change 149
Today Daily Change % -0.71
Today daily open 155.46
 
Trends
Daily SMA20 155.9
Daily SMA50 151.86
Daily SMA100 148.26
Daily SMA200 145.68
 
Levels
Previous Daily High 156.67
Previous Daily Low 155.33
Previous Weekly High 157.96
Previous Weekly Low 155.38
Previous Monthly High 158
Previous Monthly Low 148.62
Daily Fibonacci 38.2% 155.84
Daily Fibonacci 61.8% 156.16
Daily Pivot Point S1 154.97
Daily Pivot Point S2 154.48
Daily Pivot Point S3 153.62
Daily Pivot Point R1 156.32
Daily Pivot Point R2 157.17
Daily Pivot Point R3 157.66

 

 

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