EUR/JPY Price Analysis: The 55-day SMA holds the downside so far

EUR/JPY resumes the downside and revisits the 158.00 zone.
So far, the 55-day SMA around 158.00 acts as a decent contention.

Pablo Piovano FXStreet

EUR/JPY fades Thursday’s small uptick and re-shifts its attention to the downside on Friday.

Following the ongoing price action, the cross could have now entered a consolidative phase. Against that, the breakout of this theme could encourage the index to challenge the 2023 top at 159.91 (October 24) closely followed by the round level at 160.00.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.18.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.32
Today Daily Change	89
Today Daily Change %	-0.18
Today daily open	158.6

Trends
Daily SMA20	157.88
Daily SMA50	157.94
Daily SMA100	157
Daily SMA200	151.13

Levels
Previous Daily High	158.91
Previous Daily Low	157.99
Previous Weekly High	158.93
Previous Weekly Low	157.06
Previous Monthly High	158.66
Previous Monthly Low	156.58
Daily Fibonacci 38.2%	158.34
Daily Fibonacci 61.8%	158.56
Daily Pivot Point S1	158.09
Daily Pivot Point S2	157.59
Daily Pivot Point S3	157.18
Daily Pivot Point R1	159
Daily Pivot Point R2	159.41
Daily Pivot Point R3	159.92

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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