EUR/JPY Price Analysis: A move to 123.00 is not ruled out

  • 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
Daily SMA20 124.08
Daily SMA50 124.56
Daily SMA100 123.54
Daily SMA200 121.15
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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