EUR/JPY Price Analysis: A move below 130.00 is not ruled out


  • EUR/JPY’s rebound run out of steam near 131.60.
  • So far, the next support comes in at the 130.00 area.

EUR/JPY failed to push the upside momentum further north of the 131.60 zone on turnaround Tuesday.

The inability of the cross to resume the recovery in the very near term could prompt sellers to return to the market. That said, there is a minor support at the 100-day SMA near 130.50 ahead of the psychological 130.00 neighbourhood.

The loss of the latter could likely accelerate losses to the 129.60 area, or April lows.

In the broader picture, while above the 200-day SMA at 127.64 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 131.26
Today Daily Change 36
Today Daily Change % -0.09
Today daily open 131.38
 
Trends
Daily SMA20 133.08
Daily SMA50 132.15
Daily SMA100 130.47
Daily SMA200 127.66
 
Levels
Previous Daily High 131.5
Previous Daily Low 130.04
Previous Weekly High 133.68
Previous Weekly Low 130.61
Previous Monthly High 134.06
Previous Monthly Low 130.98
Daily Fibonacci 38.2% 130.94
Daily Fibonacci 61.8% 130.6
Daily Pivot Point S1 130.45
Daily Pivot Point S2 129.52
Daily Pivot Point S3 128.99
Daily Pivot Point R1 131.9
Daily Pivot Point R2 132.43
Daily Pivot Point R3 133.36

 

 

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