- EUR/JPY extends the choppy activity below 124.00.
- Immediately to the downside aligns monthly lows around 123.00.
The stance on EUR/JPY remains neutral/bearish so far this week and flirts with the 100-day in the mid-123.00s on Tuesday.
Further consolidations appears likely amidst a broad-based cautious stance in the global markets, although a loss of the lower bound of the range in the 123.50 zone could lead to another visit to the monthly lows in the 123.00 neighbourhood in the short-term horizon.
Looking at the broader scenario, while above the 200-day SMA at1 121.12, the outlook on the cross is expected to remain constructive.
EUR/JPY daily chart
|Today last price||123.7|
|Today Daily Change||49|
|Today Daily Change %||-0.09|
|Today daily open||123.81|
|Previous Daily High||124.21|
|Previous Daily Low||123.78|
|Previous Weekly High||125|
|Previous Weekly Low||123.33|
|Previous Monthly High||127.08|
|Previous Monthly Low||122.38|
|Daily Fibonacci 38.2%||123.94|
|Daily Fibonacci 61.8%||124.04|
|Daily Pivot Point S1||123.66|
|Daily Pivot Point S2||123.5|
|Daily Pivot Point S3||123.22|
|Daily Pivot Point R1||124.09|
|Daily Pivot Point R2||124.37|
|Daily Pivot Point R3||124.52|
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