EUR/JPY Price Analysis: Provisional support emerges near 159.50

EUR/JPY rebounds from earlier lows near 160.60 on Thursday.
A deeper drop should face interim contention at the 55-day SMA.

Pablo Piovano FXStreet

EUR/JPY now manages to regain some poise and return above the 161.00 barrier following earlier lows near 160.60 on Thursday.

The continuation of the downward bias carries the potential to motivate the cross to break below the 160.00 round level and revisit the transitory 55-day SMA at 159.52.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.56.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	161.65
Today Daily Change	113
Today Daily Change %	0.01
Today daily open	161.63

Trends
Daily SMA20	162.2
Daily SMA50	159.67
Daily SMA100	158.54
Daily SMA200	153.51

Levels
Previous Daily High	162.26
Previous Daily Low	161.52
Previous Weekly High	163.66
Previous Weekly Low	161.25
Previous Monthly High	160.85
Previous Monthly Low	154.39
Daily Fibonacci 38.2%	161.8
Daily Fibonacci 61.8%	161.98
Daily Pivot Point S1	161.35
Daily Pivot Point S2	161.07
Daily Pivot Point S3	160.62
Daily Pivot Point R1	162.08
Daily Pivot Point R2	162.53
Daily Pivot Point R3	162.81

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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