EUR/JPY Price Analysis: Next major support comes in at 131.00

EUR/JPY extends the drop to new 5-week lows near 132.00.
Further south is located the next support at the 131.00 zone.

Pablo Piovano FXStreet

EUR/JPY accelerates the downside to fresh multi-week lows in the proximity of the 132.00 yardstick on Thursday.

The cross flirts with the initial contention area around 132.00, where also coincides the 50-day SMA and the short-term line. A loss of this area could spark further losses to the 131.00 region.

In the broader picture, while above the 200-day SMA at 127.56 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	132.11
Today Daily Change	78
Today Daily Change %	-0.50
Today daily open	132.78

Trends
Daily SMA20	133.34
Daily SMA50	132.1
Daily SMA100	130.34
Daily SMA200	127.58

Levels
Previous Daily High	133.59
Previous Daily Low	132.69
Previous Weekly High	133.76
Previous Weekly Low	132.66
Previous Monthly High	134.06
Previous Monthly Low	130.98
Daily Fibonacci 38.2%	133.03
Daily Fibonacci 61.8%	133.24
Daily Pivot Point S1	132.45
Daily Pivot Point S2	132.12
Daily Pivot Point S3	131.56
Daily Pivot Point R1	133.35
Daily Pivot Point R2	133.92
Daily Pivot Point R3	134.25

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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