EUR/JPY Price Analysis: A drop to the 200-day SMA remains in store

EUR/JPY loses further ground and breaches the 142.00 level.
The next support is seen at the key 200-day SMA near 140.80.

Pablo Piovano FXStreet

EUR/JPY adds to the weekly leg lower and breaks below the key support at 142.00, or 2-day lows, on Wednesday.

In case the downside accelerates, the next support of note emerges at the 200-day SMA, today at 140.79. A sustainable drop below the latter exposes extra weakness to, initially, the 138.00 neighbourhood.

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	141.36
Today Daily Change	111
Today Daily Change %	-0.19
Today daily open	141.63

Trends
Daily SMA20	140.45
Daily SMA50	142.34
Daily SMA100	143.16
Daily SMA200	140.82

Levels
Previous Daily High	142.21
Previous Daily Low	141.26
Previous Weekly High	141.69
Previous Weekly Low	137.92
Previous Monthly High	146.73
Previous Monthly Low	138.8
Daily Fibonacci 38.2%	141.62
Daily Fibonacci 61.8%	141.84
Daily Pivot Point S1	141.19
Daily Pivot Point S2	140.75
Daily Pivot Point S3	140.24
Daily Pivot Point R1	142.14
Daily Pivot Point R2	142.65
Daily Pivot Point R3	143.09

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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