#EURJPY @ 140.000 reached a fresh monthly low at around 138.70, though it trimmed some losses. (Pivot Orderbook analysis)

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• EUR/JPY reached a fresh monthly low at around 138.70, though it trimmed some losses.
• Sellers in the EUR/JPY daily and 4-hour chart are gathering momentum, as shown by the RSI.
• EUR/JPY Price Analysis: in the 4-hour chart, a break below 140.00 could pave the way toward 138.00.

The pair currently trades last at 140.000.

The previous day high was 143.6 while the previous day low was 141.64. The daily 38.2% Fib levels comes at 142.39, expected to provide resistance. Similarly, the daily 61.8% fib level is at 142.85, expected to provide resistance.

The EUR/JPY dropped to fresh monthly lows at around 138.70, though a confluence of moving averages (MAs), namely the 50 and 100-day EMA meandering around the 139.16/19 area, were difficult hurdles to surpass, while bulls moving in helped to re-conquer the 140.00 psychological level. As the Asian Pacific session begins, the EUR/JPY is trading at 140.13, up by 0.11%.

On Thursday, the cross-currency pair seesawed in a 500 pip range as the Bank of Japan (BoJ) intervention in the USD/JPY sent most yen crosses nosediving sharply. Even though the EUR/JPY remains above the 50 and 100-day EMAs, oscillators, particularly the Relative Strength Index (RSI), fell to negative territory, suggesting that sellers are gathering momentum.

The GBP/JPY four-hour chart shows the 20-EM crossing under the 50 and 100-EMAs, keeping the downward bias intact, though failure to record a daily close below the 200-EMA, staying above 139.98, opened the door towards 140.00. Albeit the EUR/JPY is trading above 140.00, risks are skewed to the downside, as the RSI persists in negative territory, alongside buyers needing to step in and lift prices above the 141.00 price level.

Therefore, the EUR/JPY first support would be the 140.00 figure. Once cleared, the next support would be the 200-EMA at 139.70, followed by the 139.00 psychological level, ahead of the S1 pivot at 138.00. On the flip side, the EUR/JPY first resistance would be the daily pivot at 140.81. The break above will immediately expose the 141.00 figure, which, if cleared, could pave the way toward 142.00.

Technical Levels: Supports and Resistances

EURJPY currently trading at 140.24 at the time of writing. Pair opened at 141.75 and is trading with a change of -1.07 % .

The pair is trading below its 20 Daily moving average @ 141.44, above its 50 Daily moving average @ 139.2 , above its 100 Daily moving average @ 139.15 and above its 200 Daily moving average @ 135.49

The previous day high was 143.6 while the previous day low was 141.64. The daily 38.2% Fib levels comes at 142.39, expected to provide resistance. Similarly, the daily 61.8% fib level is at 142.85, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 141.06, 140.37, 139.1
• Pivot resistance is noted at 143.02, 144.29, 144.98

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