#EURJPY @ 138.989 trades mildly on the defensive near 139.00. (Pivot Orderbook analysis)

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• EUR/JPY trades mildly on the defensive near 139.00.
• Further consolidation could be on the cards in the near term.

The pair currently trades last at 138.989.

The previous day high was 139.52 while the previous day low was 137.38. The daily 38.2% Fib levels comes at 138.71, expected to provide support. Similarly, the daily 61.8% fib level is at 138.2, expected to provide support.

EUR/JPY struggles to extend the rebound further north of the daily highs around 139.50 on Tuesday.

Despite the bounce off recent lows, further decline should not be ruled out just yet, particularly against prospects for further weakness in the euro and the spectre of more FX intervention by the BoJ/MoF.

That said, a deeper pullback to the 200-day SMA, today at 135.66, still appears in the pipeline in the very near term at least.

Technical Levels: Supports and Resistances

EURJPY currently trading at 138.9 at the time of writing. Pair opened at 139.09 and is trading with a change of -0.14 % .

The pair is trading below its 20 Daily moving average @ 141.75, below its 50 Daily moving average @ 139.19 , below its 100 Daily moving average @ 139.21 and above its 200 Daily moving average @ 135.65

The previous day high was 139.52 while the previous day low was 137.38. The daily 38.2% Fib levels comes at 138.71, expected to provide support. Similarly, the daily 61.8% fib level is at 138.2, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 137.81, 136.53, 135.67
• Pivot resistance is noted at 139.95, 140.81, 142.09

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