EUR/JPY Price Analysis: Immediately to the downside comes 134.44

EUR/JPY adds to Wednesday’s losses and approaches 135.00.
Further down comes a Fibo level around 134.40.

Pablo Piovano FXStreet

EUR/JPY keeps correcting lower following Monday’s fresh cycle highs and trades at shouting distance from the 135.00 neighbourhood.

The underlying upside momentum in the cross remains unchanged, although further retracement should not be ruled out in the very near term. Against that, there is an interim support at a Fibo level (of the March rally) at 134.44 prior to the former 2022 high at 133.15 (February 10).

In the meantime, while above the 200-day SMA at 130.08, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	134.8
Today Daily Change	216
Today Daily Change %	-0.83
Today daily open	135.93

Trends
Daily SMA20	130.82
Daily SMA50	130.35
Daily SMA100	129.89
Daily SMA200	130.11

Levels
Previous Daily High	136.67
Previous Daily Low	134.88
Previous Weekly High	134.75
Previous Weekly Low	131.38
Previous Monthly High	133.15
Previous Monthly Low	127.92
Daily Fibonacci 38.2%	135.57
Daily Fibonacci 61.8%	135.99
Daily Pivot Point S1	134.98
Daily Pivot Point S2	134.03
Daily Pivot Point S3	133.19
Daily Pivot Point R1	136.77
Daily Pivot Point R2	137.62
Daily Pivot Point R3	138.57

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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