EUR/JPY Price Analysis: Minor support emerges at 158.00

EUR/JPY comes to further downside pressure on Thursday.
The corrective knee-jerk meets contention around 158.00.

Pablo Piovano FXStreet

EUR/JPY corrects further down and adds to the ongoing rejection from Tuesday’s 2023 peaks.

Despite the ongoing decline, further upside appears in the pipeline for the cross in the short-term horizon. Against that, the immediate hurdle emerges at the 2023 top at 159.91 (October 24) closely followed by the round level at 160.00.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.09.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.51
Today Daily Change	85
Today Daily Change %	-0.08
Today daily open	158.64

Trends
Daily SMA20	157.84
Daily SMA50	157.94
Daily SMA100	156.91
Daily SMA200	151.04

Levels
Previous Daily High	159.08
Previous Daily Low	158.41
Previous Weekly High	158.93
Previous Weekly Low	157.06
Previous Monthly High	158.66
Previous Monthly Low	156.58
Daily Fibonacci 38.2%	158.66
Daily Fibonacci 61.8%	158.82
Daily Pivot Point S1	158.34
Daily Pivot Point S2	158.04
Daily Pivot Point S3	157.67
Daily Pivot Point R1	159.01
Daily Pivot Point R2	159.38
Daily Pivot Point R3	159.68

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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