#EURJPY @ 138.574 sparks a corrective decline just above the 139.00 mark., Check trading levels

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• EUR/JPY sparks a corrective decline just above the 139.00 mark.
• Further advance looks likely once 140.00 is cleared.

The pair currently trades last at 138.574.

The previous day high was 139.22 while the previous day low was 138.26. The daily 38.2% Fib levels comes at 138.85, expected to provide resistance. Similarly, the daily 61.8% fib level is at 138.63, expected to provide resistance.

EUR/JPY comes under downside pressure following three consecutive sessions with gains on Wednesday.

The continuation of the uptrend now shifts the focus to the key level at 140.00. Beyond this zone, the cross might attempt another test of the weekly peak at 142.32 (July 21), which is deemed as the latest defense of the 2022 high at 144.27 (June 28).

While above the 200-day SMA at 134.37, the prospects for the pair should remain constructive.

Technical Levels: Supports and Resistances

EURJPY currently trading at 138.63 at the time of writing. Pair opened at 139.0 and is trading with a change of -0.27 % .

The pair is trading above its 20 Daily moving average @ 137.04, below its 50 Daily moving average @ 138.66 , above its 100 Daily moving average @ 138.33 and above its 200 Daily moving average @ 134.36

The previous day high was 139.22 while the previous day low was 138.26. The daily 38.2% Fib levels comes at 138.85, expected to provide resistance. Similarly, the daily 61.8% fib level is at 138.63, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 138.43, 137.87, 137.48
• Pivot resistance is noted at 139.39, 139.78, 140.35

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