EUR/JPY Price Analysis: Further losses target the 154.00 area

EUR/JPY fails to extend the daily rebound north of 156.70.
Extra decline could revisit the 154.00 zone in the near term.

Pablo Piovano FXStreet

EUR/JPY could not sustain the earlier move to the 156.70 area and slipped back to the sub-156.00 region at the beginning of the week.

In the meantime, the cross maintains its rejection from last week’s YTD tops near the 158.00 area. Against this backdrop, further pullbacks should not be ruled out for the time being. That said, the door remains open for the cross to challenge the weekly low at 154.04 (June 20).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 145.64.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	155.69
Today Daily Change	103
Today Daily Change %	-0.12
Today daily open	155.88

Trends
Daily SMA20	155.63
Daily SMA50	151.77
Daily SMA100	148.14
Daily SMA200	145.61

Levels
Previous Daily High	156.93
Previous Daily Low	155.38
Previous Weekly High	157.96
Previous Weekly Low	155.38
Previous Monthly High	158
Previous Monthly Low	148.62
Daily Fibonacci 38.2%	155.98
Daily Fibonacci 61.8%	156.34
Daily Pivot Point S1	155.2
Daily Pivot Point S2	154.52
Daily Pivot Point S3	153.65
Daily Pivot Point R1	156.75
Daily Pivot Point R2	157.61
Daily Pivot Point R3	158.3

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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