- EUR/JPY pares gains in the Asian session.
- Cross fell sharply from the high of 133.68 in the previous week.
- Momentum oscillator in overbought zone warns of aggressive bets.
EUR/JPY trades cautiously on Tuesday morning in the Asian trading hours. The cross constitutes a 20 pips movement with a negative bias.
As of writing, EUR/JPY trades at 131.26 with 0.09% losses on the day.
EUR/JPY daily chart
On the daily chart, the EUR/JPY pair has fallen sharply in the previous week after consolidating in the range of 133.00-134.10.
If price sustains above the session’s high at 131.54, then it has the potential to reach the 131.85 horizontal resistance level followed by the high of May 12 at 132.47.
The Moving Average Convergence (MACD) indicator holds onto overbought trajectory with bearish momentum. Any uptick in the MACD would prompt EUR/JPY bulls to aim for May 14 high at 132.84.
Alternatively, if price moves lower, then it could first target the 130.95 horizontal support level. The cross would spot the next target at the 100-day Simple Moving Average (SMA) at 130.51.
A sustained move below the above mentioned 100-day SMA would prompt EUR bears to attract April 26 low at 130.21.
EUR/JPY additional levels
|Today last price||131.3|
|Today Daily Change||-0.08|
|Today Daily Change %||-0.06|
|Today daily open||131.38|
|Previous Daily High||131.5|
|Previous Daily Low||130.04|
|Previous Weekly High||133.68|
|Previous Weekly Low||130.61|
|Previous Monthly High||134.06|
|Previous Monthly Low||130.98|
|Daily Fibonacci 38.2%||130.94|
|Daily Fibonacci 61.8%||130.6|
|Daily Pivot Point S1||130.45|
|Daily Pivot Point S2||129.52|
|Daily Pivot Point S3||128.99|
|Daily Pivot Point R1||131.9|
|Daily Pivot Point R2||132.43|
|Daily Pivot Point R3||133.36|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.