Chart - Courtesy Trading View
EUR/JPY was trading 0.18% lower on the day at 140.73 at around 04:55 GMT, consolidates previous session's slump.
Fears of a global banking crisis, after contagion from the implosion of U.S.-based Silicon Valley Bank spread to Swiss bank Credit Suisse, keep markets jittery.
Investors' confidence remains sour sending traders flocking to the safe-haven currencies like the greenback and Japanese yen.
The European Central Bank meets later on Thursday and is due to announce its interest rate decision following the meeting.
Traders scale back bets on a 50-basis-point ECB rate hike as the rout in Credit Suisse shares fanned concerns about the health of Europe's banking sector.
EUR/JPY is set to extend previous session's fall. Momentum is bearish and volatility is high and rising.
Price action is below cloud and major moving averages which are trending lower. MACD and ADX support further weakness in the pair.
Major Support Levels:
S1: 139.57 (55-week EMA)
S2: 138.49 (Lower W BB)
Major Resistance Levels:
R1: 141.77 (200-DMA)
R2: 142.05 (Cloud top)
Summary: EUR/JPY poised for further weakness. Watch out for close below daily cloud for further weakness. Test of Symmetric Triangle base at 139.50 likely.


NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major European Indices
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
FxWirePro: USD/ZAR edges higher but bearish outlook persists
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 



