EUR/JPY Price Analysis: Renewed downside could test 2023 lows

EUR/JPY drops sharply and challenges 139.00 on Friday.
A move to the YTD low near 137.40 appears on the cards.

Pablo Piovano FXStreet

EUR/JPY adds to Thursday’s losses and drops markedly well below the key 200-day SMA (141.79) at the end of the week.

In case the selling pressure gathers extra steam, the cross could extedn the decline to the 2023 low at 137.38 (January 3).

In the meantime, extra losses remain in store while the cross trades below the 200-day SMA.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	139.57
Today Daily Change	278
Today Daily Change %	-1.50
Today daily open	141.7

Trends
Daily SMA20	143.38
Daily SMA50	142.2
Daily SMA100	142.71
Daily SMA200	141.84

Levels
Previous Daily High	143.2
Previous Daily Low	141.16
Previous Weekly High	144.96
Previous Weekly Low	139.13
Previous Monthly High	145.47
Previous Monthly Low	139.55
Daily Fibonacci 38.2%	141.94
Daily Fibonacci 61.8%	142.42
Daily Pivot Point S1	140.84
Daily Pivot Point S2	139.98
Daily Pivot Point S3	138.8
Daily Pivot Point R1	142.88
Daily Pivot Point R2	144.06
Daily Pivot Point R3	144.92

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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