EUR/JPY Price Analysis: Further weakness on the cards

EUR/JPY accelerates the weekly losses and breaches 131.00.
Next on the downside comes in the 130.00 neighbourhood.

Pablo Piovano FXStreet

The downside momentum in EUR/JPY picks up extra pace and motivates the cross to break below the key support at 131.00 on Wednesday.

The continuation of the downtrend could now extend further and attempt to re-visit the psychological 130.00 zone, where sits the June lows.

In the broader picture, while above the 200-day SMA at 128.09 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.93
Today Daily Change	54
Today Daily Change %	0.08
Today daily open	130.82

Trends
Daily SMA20	132.16
Daily SMA50	132.48
Daily SMA100	131.01
Daily SMA200	128.12

Levels
Previous Daily High	131.86
Previous Daily Low	130.62
Previous Weekly High	132.43
Previous Weekly Low	131.28
Previous Monthly High	134.13
Previous Monthly Low	130.04
Daily Fibonacci 38.2%	131.1
Daily Fibonacci 61.8%	131.39
Daily Pivot Point S1	130.34
Daily Pivot Point S2	129.86
Daily Pivot Point S3	129.1
Daily Pivot Point R1	131.58
Daily Pivot Point R2	132.34
Daily Pivot Point R3	132.83

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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