EUR/JPY Technical Analysis: Immediate support line challenges sellers around 124.30
|- Extending its gradual declines from 125.94, the EUR/JPY pair presently tests the short-term ascending support-line, at 124.30, on early Friday.
- The pair needs to provide a decisive break under 124.30 in order to further decline to 123.80 and then to a mid-January low around 123.40.
- Given the pair’s sustained downturn past-123.40, 122.80, 122.00 and 121.25 could entertain the bears.
- Meanwhile, nearby descending trend-line, at 124.70, acts as adjacent resistance for the pair, a break of which can trigger its recovery to 125.30.
- During the pair’s additional rise beyond 125.30, the 125.79-125.93 region comprising December lows and February high seem strong resistance.
EUR/JPY 4-Hour chart
EUR/JPY
Overview:
Today Last Price: 124.43
Today Daily change: -18 pips
Today Daily change %: -0.14%
Today Daily Open: 124.61
Trends:
Daily SMA20: 124.73
Daily SMA50: 125.95
Daily SMA100: 127.74
Daily SMA200: 128.48
Levels:
Previous Daily High: 125.07
Previous Daily Low: 124.34
Previous Weekly High: 125.74
Previous Weekly Low: 124.36
Previous Monthly High: 127.07
Previous Monthly Low: 118.84
Daily Fibonacci 38.2%: 124.62
Daily Fibonacci 61.8%: 124.79
Daily Pivot Point S1: 124.28
Daily Pivot Point S2: 123.94
Daily Pivot Point S3: 123.54
Daily Pivot Point R1: 125.01
Daily Pivot Point R2: 125.41
Daily Pivot Point R3: 125.74
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