EUR/JPY Price Analysis: The 200-day SMA holds the downside so far

EUR/JPY partially fades the positive start of the week on Tuesday.
Further range bound appears likely in the short-term horizon.

Pablo Piovano FXStreet

EUR/JPY keeps the side-lined phase well in place for yet another session on Tuesday.

Extra consolidation should not be ruled out in the very near term. In case the downside accelerates, the next support of note emerges at the 200-day SMA, today at 140.87. A sustainable drop below the latter exposes extra weakness to, initially, the 138.00 neighbourhood. On the upside, the breakout of the weekly high at 142.29 (January 25) could open the door to a potential test of the key resistance area around 143.00.

The constructive outlook for EUR/JPY is seen unchanged above the 200-day SMA for the time being.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	141.34
Today Daily Change	87
Today Daily Change %	-0.11
Today daily open	141.5

Trends
Daily SMA20	140.52
Daily SMA50	142.05
Daily SMA100	143.07
Daily SMA200	140.88

Levels
Previous Daily High	141.98
Previous Daily Low	140.56
Previous Weekly High	142.3
Previous Weekly Low	140.47
Previous Monthly High	146.73
Previous Monthly Low	138.8
Daily Fibonacci 38.2%	141.44
Daily Fibonacci 61.8%	141.1
Daily Pivot Point S1	140.71
Daily Pivot Point S2	139.92
Daily Pivot Point S3	139.29
Daily Pivot Point R1	142.13
Daily Pivot Point R2	142.77
Daily Pivot Point R3	143.56

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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