EUR/JPY Price Analysis: A move to 122.40 is now on the cards


  • EUR/JPY extends the downside to the vicinity of 123.00.
  • Risks of a deeper pullback stay well in the pipeline.

EUR/JPY accelerates the leg lower and drops for yet another session on Friday. The cross has so far managed well to meet support near 120.00 the figure.

If the selling impetus picks up extra pace, then the cross is expected to meet the next relevant contention area around 122.40, where sits the September’s low. Further south comes in the critical 200-day SMA just above 121.00 the figure.

Above this zone, the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 123.33
Today Daily Change 35
Today Daily Change % -0.10
Today daily open 123.45
 
Trends
Daily SMA20 123.75
Daily SMA50 124.77
Daily SMA100 123.39
Daily SMA200 121.09
 
Levels
Previous Daily High 123.78
Previous Daily Low 123.02
Previous Weekly High 125.09
Previous Weekly Low 123.32
Previous Monthly High 127.08
Previous Monthly Low 122.38
Daily Fibonacci 38.2% 123.31
Daily Fibonacci 61.8% 123.49
Daily Pivot Point S1 123.05
Daily Pivot Point S2 122.66
Daily Pivot Point S3 122.3
Daily Pivot Point R1 123.81
Daily Pivot Point R2 124.17
Daily Pivot Point R3 124.57

 

 

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