EUR/JPY Price Analysis: Weakness expected to persist below the 200-day SMA

EUR/JPY picks up some upside traction and regains 138.00.
The immediate target appears at the 200-day SMA (140.45).

Pablo Piovano FXStreet

EUR/JPY manages to leave behind four consecutive daily drops and reclaims the area beyond 138.00 the figure on Wednesday.

Despite the daily bounce, the cross still trades under pressure and the door remains open to another probable visit to recent lows in the 137.40/35 band (January 3).

The outlook for EUR/JPY is expected to remain negative while below the 200-day SMA, today at 140.45.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	138.46
Today Daily Change	74
Today Daily Change %	0.20
Today daily open	138.18

Trends
Daily SMA20	142.46
Daily SMA50	143.93
Daily SMA100	142.83
Daily SMA200	140.48

Levels
Previous Daily High	140.02
Previous Daily Low	137.39
Previous Weekly High	142.94
Previous Weekly Low	140
Previous Monthly High	146.73
Previous Monthly Low	138.8
Daily Fibonacci 38.2%	138.39
Daily Fibonacci 61.8%	139.01
Daily Pivot Point S1	137.04
Daily Pivot Point S2	135.9
Daily Pivot Point S3	134.41
Daily Pivot Point R1	139.67
Daily Pivot Point R2	141.16
Daily Pivot Point R3	142.31

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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