EUR/JPY Price Analysis: Interim support comes near 156.00

EUR/JPY adds to Tuesday’s losses and revisits 157.00.
A deeper decline could meet transitory support near 156.00.

Pablo Piovano FXStreet

EUR/JPY accelerates its downside momentum and drops to multi-day lows in the 157.00 neighbourhood on Wednesday.

In case the corrective retracement gathers further impulse, the cross could extend the move to the provisional 55-day SMA around 156.00, which should hold the initial test. South from here emerges the 100-day SMA near 152.50 prior to the July low of 151.40 (July 28).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.51.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	157.27
Today Daily Change	37
Today Daily Change %	-0.60
Today daily open	158.22

Trends
Daily SMA20	157.37
Daily SMA50	156.55
Daily SMA100	152.43
Daily SMA200	147.49

Levels
Previous Daily High	159.49
Previous Daily Low	158.09
Previous Weekly High	159.34
Previous Weekly Low	157.66
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	158.62
Daily Fibonacci 61.8%	158.96
Daily Pivot Point S1	157.71
Daily Pivot Point S2	157.2
Daily Pivot Point S3	156.31
Daily Pivot Point R1	159.11
Daily Pivot Point R2	160
Daily Pivot Point R3	160.52

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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