EUR/JPY Price Analysis: Bulls consolidate around 131.30


  • 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

EUR/JPY

Overview
Today last price 131.3
Today Daily Change -0.08
Today Daily Change % -0.06
Today daily open 131.38
 
Trends
Daily SMA20 133.08
Daily SMA50 132.15
Daily SMA100 130.47
Daily SMA200 127.66
 
Levels
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

 

 

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