- EUR/JPY fades pullback from an intraday low of 124.52.
- Bearish MACD, failures to keep bounces off the key Fibonacci retracement favor sellers.
- 200-bar EMA, monthly falling trend line challenge buyers.
EUR/JPY prints 0.15% intraday losses while easing to 124.73 ahead of Wednesday’s European session.
Given the pair’s another downside break of 200-bar EMA, sellers are currently targeting a 61.8% Fibonacci retracement of the run-up from July 24 to September 01, around 124.45. Also acting as an additional filter to the EUR/JPY south-run is July 30 top around 124.30.
Should the quote manages to drop beneath 124.30, bears can aim for 123.90 and the 123.00 threshold.
Alternatively, a sustained break of 200- bar EMA, currently around 125.10, will direct buyers towards a falling trend line from September 01, at 126.13 now.
If at all the EUR/JPY bulls manage to cross the stated resistance line, the resultant upward trajectory can aim for 126.50 and the monthly top of 127.07.
EUR/JPY four-hour chart
Additional important levels
|Today last price||124.72|
|Today Daily Change||-0.20|
|Today Daily Change %||-0.16%|
|Today daily open||124.92|
|Previous Daily High||125.77|
|Previous Daily Low||124.76|
|Previous Weekly High||126.46|
|Previous Weekly Low||124.43|
|Previous Monthly High||126.85|
|Previous Monthly Low||123.99|
|Daily Fibonacci 38.2%||125.14|
|Daily Fibonacci 61.8%||125.38|
|Daily Pivot Point S1||124.53|
|Daily Pivot Point S2||124.14|
|Daily Pivot Point S3||123.51|
|Daily Pivot Point R1||125.54|
|Daily Pivot Point R2||126.16|
|Daily Pivot Point R3||126.55|
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