EUR/JPY Price Analysis: Interim contention emerges at 158.80

EUR/JPY adds to Thursday’s corrective decline.
Further losses appear on the cards near term.

Pablo Piovano FXStreet

EUR/JPY comes under extra selling pressure following Thursday’s 2023 peaks north of the 164.00 hurdle.

The continuation of the retracement from overbought levels appears on the cards for the time being. Against that, the cross could initially revisit the provisional 55-day SMA near 158.80 prior to the weekly low of 157.69 (October 30).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.68.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	162.79
Today Daily Change	145
Today Daily Change %	-0.43
Today daily open	163.49

Trends
Daily SMA20	160.55
Daily SMA50	158.8
Daily SMA100	157.97
Daily SMA200	152.61

Levels
Previous Daily High	164.31
Previous Daily Low	163.26
Previous Weekly High	161.95
Previous Weekly Low	160.15
Previous Monthly High	160.85
Previous Monthly Low	154.39
Daily Fibonacci 38.2%	163.66
Daily Fibonacci 61.8%	163.91
Daily Pivot Point S1	163.06
Daily Pivot Point S2	162.63
Daily Pivot Point S3	162.01
Daily Pivot Point R1	164.11
Daily Pivot Point R2	164.74
Daily Pivot Point R3	165.17

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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