EUR/JPY Price Analysis: Next support comes at 129.43

EUR/JPY remains under heavy pressure and breaches 130.00.
Further retracement targets the Fibo level near 129.40.

Pablo Piovano FXStreet

EUR/JPY’s decline appears to have met some contention near 129.60, or fresh 5-week lows on Tuesday.

A deeper pullback below 129.60 looks likely in the very near term and could force the cross to visit the next Fibo level (of the October rally) at 129.43. Below this level there are no significant stops until October’s low at 128.33 (October 6).

Below the 200-day SMA, today at 130.48, the outlook for EUR/JPY is seen as negative.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	129.71
Today Daily Change	45
Today Daily Change %	0.01
Today daily open	129.7

Trends
Daily SMA20	131.73
Daily SMA50	130.59
Daily SMA100	130.26
Daily SMA200	130.51

Levels
Previous Daily High	130.6
Previous Daily Low	129.69
Previous Weekly High	131.43
Previous Weekly Low	130.23
Previous Monthly High	133.48
Previous Monthly Low	128.34
Daily Fibonacci 38.2%	130.04
Daily Fibonacci 61.8%	130.25
Daily Pivot Point S1	129.39
Daily Pivot Point S2	129.08
Daily Pivot Point S3	128.48
Daily Pivot Point R1	130.3
Daily Pivot Point R2	130.91
Daily Pivot Point R3	131.22

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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