EUR/JPY Price Analysis: Decent contention remains near 161.20

EUR/JPY prints humble gains in the 162.10/20 band midweek.
Extra decline could see the 161.20 region revisited in the short term.

Pablo Piovano FXStreet

EUR/JPY sets aside two daily pullbacks in a row and manages to bounce off earlier lows in the 161.50 area on Wednesday.

The continuation of the downward bias carries the potential to drag the cross to the weekly low of 161.20/25 band (November 21) prior to the provisional 55-day SMA, today at 159.45.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.46.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	162.16
Today Daily Change	70
Today Daily Change %	0.06
Today daily open	162.06

Trends
Daily SMA20	162.09
Daily SMA50	159.6
Daily SMA100	158.46
Daily SMA200	153.41

Levels
Previous Daily High	162.98
Previous Daily Low	161.92
Previous Weekly High	163.66
Previous Weekly Low	161.25
Previous Monthly High	160.85
Previous Monthly Low	154.39
Daily Fibonacci 38.2%	162.33
Daily Fibonacci 61.8%	162.58
Daily Pivot Point S1	161.66
Daily Pivot Point S2	161.27
Daily Pivot Point S3	160.61
Daily Pivot Point R1	162.72
Daily Pivot Point R2	163.38
Daily Pivot Point R3	163.77

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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