EURJPY Price Analysis: Corrective decline could extend to 144.00

EURJPY extends the weekly leg lower for the third session in a row.
Immediately to the downside now comes the 144.00 region.

Pablo Piovano FXStreet

EURJPY clinches the third straight day with losses and breaks below the key 146.00 support on Thursday.

The cross seems to have embarked on a corrective phase and the continuation of this stance could challenge the so far November low at 144.03 (November 3) in the short term. Further south awaits the 55-day SMA, today at 143.28.

In the short term the upside momentum is expected to persist while above the October lows near 141.00.

In the longer run, while above the key 200-day SMA at 138.03, the constructive outlook is expected to remain unchanged.

EURJPY daily chart

EUR/JPY

Overview
Today last price	145.65
Today Daily Change	116
Today Daily Change %	-0.70
Today daily open	146.68

Trends
Daily SMA20	146.28
Daily SMA50	143.66
Daily SMA100	141.12
Daily SMA200	138

Levels
Previous Daily High	147.11
Previous Daily Low	146.32
Previous Weekly High	147.76
Previous Weekly Low	144.04
Previous Monthly High	148.4
Previous Monthly Low	140.9
Daily Fibonacci 38.2%	146.81
Daily Fibonacci 61.8%	146.62
Daily Pivot Point S1	146.3
Daily Pivot Point S2	145.91
Daily Pivot Point S3	145.5
Daily Pivot Point R1	147.09
Daily Pivot Point R2	147.49
Daily Pivot Point R3	147.88

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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