EUR/JPY Price Analysis: Losses could accelerate to 138.00 near term

EUR/JPY comes under further pressure below the 200-day SMA.
The continuation of the downtrend could see the 138.00 region revisited.

Pablo Piovano FXStreet

EUR/JPY reverses the recent 2-day bounce and drops to 3-week lows in the 139.50 zone at the end of the week.

While the cross is expected to maintain the side-lined theme in the short term, a convincing breakdown of the 200-day SMA at 141.03 should open the taps to extra weakness with the immediate target at the contention zone around 138.00.

In the meantme, below the 200-day SMA, the outlook for the cross is expected to remain bearish.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	140.11
Today Daily Change	196
Today Daily Change %	-0.83
Today daily open	141.28

Trends
Daily SMA20	140.73
Daily SMA50	141.6
Daily SMA100	142.94
Daily SMA200	141.06

Levels
Previous Daily High	141.38
Previous Daily Low	140.46
Previous Weekly High	142.34
Previous Weekly Low	139.93
Previous Monthly High	142.86
Previous Monthly Low	137.39
Daily Fibonacci 38.2%	141.02
Daily Fibonacci 61.8%	140.81
Daily Pivot Point S1	140.7
Daily Pivot Point S2	140.12
Daily Pivot Point S3	139.78
Daily Pivot Point R1	141.61
Daily Pivot Point R2	141.95
Daily Pivot Point R3	142.53

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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