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EUR/JPY Price Analysis: Interim support comes near 156.00

  • EUR/JPY adds to Tuesday’s losses and revisits 157.00.
  • A deeper decline could meet transitory support near 156.00.

EUR/JPY accelerates its downside momentum and drops to multi-day lows in the 157.00 neighbourhood on Wednesday.

In case the corrective retracement gathers further impulse, the cross could extend the move to the provisional 55-day SMA around 156.00, which should hold the initial test. South from here emerges the 100-day SMA near 152.50 prior to the July low of 151.40 (July 28).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.51.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price157.27
Today Daily Change37
Today Daily Change %-0.60
Today daily open158.22
 
Trends
Daily SMA20157.37
Daily SMA50156.55
Daily SMA100152.43
Daily SMA200147.49
 
Levels
Previous Daily High159.49
Previous Daily Low158.09
Previous Weekly High159.34
Previous Weekly Low157.66
Previous Monthly High158.05
Previous Monthly Low151.41
Daily Fibonacci 38.2%158.62
Daily Fibonacci 61.8%158.96
Daily Pivot Point S1157.71
Daily Pivot Point S2157.2
Daily Pivot Point S3156.31
Daily Pivot Point R1159.11
Daily Pivot Point R2160
Daily Pivot Point R3160.52

Author

Pablo Piovano

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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