EUR/JPY Price Analysis: Bulls keep eyes on next resistance near 130.50

  • EUR/JPY manages to recover part of its previous day’s losses.
  • Additional gains envisioned if price decisively breaks 130.20.
  • Momentum oscillator holds onto oversold territory and warns of any aggressive bets.

EUR/JPY snapped the previous three session’s losses on Friday morning in the Asian trading hours. The cross opened lower but managed to recover swiftly and traveled to an intraday high of 130.19.

As of writing, EUR/JPY is trading at 130.08  with 0.08% gains for the day.

EUR/JPY daily chart

On the daily chart, the EUR/GBP currency pair fell sharply from the high of 133.58 on June 16 and tested multi-month support near 130.10. The same level, where price is currently facing resistance.

If price sustained above the mentioned level, it could continue with its recovery mode toward the 130.50 horizontal resistance level.

The Moving Average Convergence (MACD) indicator holds onto an oversold trajectory with a neutral stance. Any uptick in the MACD would prompt EUR/GBP bulls to aim for the 100-day Simple Moving Average placed at 131.08.

A daily close above the 100-day SMA would make the upside momentum more prominent. Next, the bulls look forward to the 131.50 horizontal level.

Alternatively, if prices reverse, it could first touch the previous day’s low level at 129.62.

A break of the 129.62 level would open the gates for the levels last seen in March.

Market participants attempt to retest the  March 31 low of 129.25.

EUR/JPY additional level


Today last price 130.1
Today Daily Change 0.18
Today Daily Change % 0.14
Today daily open 129.92
Daily SMA20 131.85
Daily SMA50 132.41
Daily SMA100 131.06
Daily SMA200 128.18
Previous Daily High 130.55
Previous Daily Low 129.62
Previous Weekly High 132.43
Previous Weekly Low 131.28
Previous Monthly High 134.13
Previous Monthly Low 130.04
Daily Fibonacci 38.2% 129.98
Daily Fibonacci 61.8% 130.2
Daily Pivot Point S1 129.51
Daily Pivot Point S2 129.1
Daily Pivot Point S3 128.58
Daily Pivot Point R1 130.44
Daily Pivot Point R2 130.96
Daily Pivot Point R3 131.37



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.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Indecisive above 1.1700 as Fed tapering looms

EUR/USD retreats towards 1.1700, teasing monthly low for third straight day. Market sentiment improves over Evergrande, US debt limit extension. ECB policymakers cite inflation risks. Fed remains in focus, as it is expected to provide hints on tapering timing.


GBP/USD: Pressure mounts ahead of central banks’ announcements

The Fed and the BoE will make announcements this week. UK public inflation expectations are up for this year and the upcoming ones. GBP/USD is technically bearish in the near term, poised to retest August monthly low.


Gold cheers China-led risk-on mood on the way to $1,800, focus on Fed

Gold (XAU/USD) regains upside momentum after a sluggish start to the key day. That said, the yellow metal rises for the fourth consecutive day, up 0.10% around $1,776 during early Wednesday. 

Gold News

Dogecoin price heads south toward $0.10, DOGE bulls show little opposition

Dogecoin price action points to a continuation of the downside pressure it has experienced over the last month. Little supportive price action exists as bulls continue to disappear and fade away. Doge continues to drift lower as bears maintain a relentless assault against the bulls.

Read more

Fed Preview: Three ways in which Powell could down the dollar, and none is the dot-plot

No taper now, but when? That is the main question investors have for the Federal Reserve in its all-important September meeting. The bank buys $120 billion worth of bonds every month and it is set to reduce the pace at some point.

Read more