EUR/JPY Price Analysis: Attention remains on 125.00

EUR/JPY struggles for direction above the 124.00 yardstick.
Traders’ focus remains on the monthly tops just above 125.00.

Pablo Piovano FXStreet

EUR/JPY’s bounce off last week’s lows in the sub-123.00 area appears to have met a tough near-term resistance in the mid-124.00s for the time being.

A surpass of this area should allow for a visit to the so far monthly peaks just past 125.00 the figure. This area also coincides with October’s highs. Extra upside pressure is then expected to meet the next resistance of significance at the 2020 high in the 127.00 neighbourhood (September 1).

On the opposite side, losses are expected to accelerate if EUR/JPY breaks below last week’s lows in the 122.80 zone, exposing the key 200-day SMA, today at 121.45.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	124.23
Today Daily Change	36
Today Daily Change %	0.02
Today daily open	124.21

Trends
Daily SMA20	123.22
Daily SMA50	123.58
Daily SMA100	124.05
Daily SMA200	121.47

Levels
Previous Daily High	124.35
Previous Daily Low	123.63
Previous Weekly High	124.44
Previous Weekly Low	122.85
Previous Monthly High	125.09
Previous Monthly Low	121.62
Daily Fibonacci 38.2%	124.07
Daily Fibonacci 61.8%	123.91
Daily Pivot Point S1	123.78
Daily Pivot Point S2	123.35
Daily Pivot Point S3	123.06
Daily Pivot Point R1	124.49
Daily Pivot Point R2	124.78
Daily Pivot Point R3	125.21

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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