#EURJPY @ 140.737 drops heavily and breaks below the key 200-day SMA. (Pivot Orderbook analysis)
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- EUR/JPY drops heavily and breaks below the key 200-day SMA.
- Further weakness could see the February low revisited near term.
The pair currently trades last at 140.737.
The previous day high was 144.41 while the previous day low was 142.53. The daily 38.2% Fib levels comes at 143.69, expected to provide resistance. Similarly, the daily 61.8% fib level is at 143.25, expected to provide resistance.
The abrupt sell-off forces EUR/JPY to break below the 141.00 mark and leave behind the key 200-day SMA at 141.77 at the same time.
The sharp retracement could now motivate the cross to challenge the February low at 139.54 (February 10), while the breach of the latter could put a potential drop to the 2023 low at 137.38 (January 3) back on the radar.
Below the 200-day SMA the outlook for the cross is expected to shift to negative.
Technical Levels: Supports and Resistances
EURJPY currently trading at 140.66 at the time of writing. Pair opened at 144.05 and is trading with a change of -2.35 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 140.66 |
| 1 | Today Daily Change | 433.00 |
| 2 | Today Daily Change % | -2.35 |
| 3 | Today daily open | 144.05 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 143.94, 50 SMA 142.12, 100 SMA @ 143.03 and 200 SMA @ 141.82.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 143.94 |
| 1 | Daily SMA50 | 142.12 |
| 2 | Daily SMA100 | 143.03 |
| 3 | Daily SMA200 | 141.82 |
The previous day high was 144.41 while the previous day low was 142.53. The daily 38.2% Fib levels comes at 143.69, expected to provide resistance. Similarly, the daily 61.8% fib level is at 143.25, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 142.92, 141.79, 141.04
- Pivot resistance is noted at 144.8, 145.54, 146.67
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 144.41 |
| Previous Daily Low | 142.53 |
| Previous Weekly High | 145.44 |
| Previous Weekly Low | 143.35 |
| Previous Monthly High | 145.47 |
| Previous Monthly Low | 139.55 |
| Daily Fibonacci 38.2% | 143.69 |
| Daily Fibonacci 61.8% | 143.25 |
| Daily Pivot Point S1 | 142.92 |
| Daily Pivot Point S2 | 141.79 |
| Daily Pivot Point S3 | 141.04 |
| Daily Pivot Point R1 | 144.80 |
| Daily Pivot Point R2 | 145.54 |
| Daily Pivot Point R3 | 146.67 |
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