EUR/JPY Price Analysis: The 128.00 area holds the downside, for now

EUR/JPY adds to the recent pullback and retests 128.00.
Further south comes the August/September lows at 127.93.

Pablo Piovano FXStreet

EUR/JPY extends the downside and revisits the 12800 region at the end of the week.

The continuation of the downtrend remains in the pipeline and therefore another visit to the monthly low at 127.97 (November 19) looks likely in the short-term horizon. A move further south should see the August and September low around 127.93 retested.

Looking at the broader picture, the outlook for the cross is expected to remain negative while below the 200-day SMA, today at 130.54.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	128.61
Today Daily Change	23
Today Daily Change %	-0.53
Today daily open	129.3

Trends
Daily SMA20	130.47
Daily SMA50	130.53
Daily SMA100	130.11
Daily SMA200	130.58

Levels
Previous Daily High	129.53
Previous Daily Low	129.24
Previous Weekly High	130.6
Previous Weekly Low	127.98
Previous Monthly High	133.48
Previous Monthly Low	128.34
Daily Fibonacci 38.2%	129.42
Daily Fibonacci 61.8%	129.35
Daily Pivot Point S1	129.19
Daily Pivot Point S2	129.07
Daily Pivot Point S3	128.9
Daily Pivot Point R1	129.47
Daily Pivot Point R2	129.65
Daily Pivot Point R3	129.76

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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