- EUR/JPY loses the grip and breaks below the 121.00 mark.
- A potential move to the 200-day SMA at 119.70 is now on the cards.
If the selling bias gathers traction, then the door should remain open for a probable move to the 200-day SMA in the 119.70 region.
As long as the 200-day SMA near 119.70 holds the downside, the outlook on the cross is seen as constructive. This contention area is also reinforced by June’s lows in the 119.30 region.
EUR//JPY daily chart
|Today last price||120.63|
|Today Daily Change||79|
|Today Daily Change %||-0.29|
|Today daily open||120.98|
|Previous Daily High||121.97|
|Previous Daily Low||120.9|
|Previous Weekly High||121.48|
|Previous Weekly Low||120.05|
|Previous Monthly High||124.43|
|Previous Monthly Low||119.32|
|Daily Fibonacci 38.2%||121.31|
|Daily Fibonacci 61.8%||121.56|
|Daily Pivot Point S1||120.6|
|Daily Pivot Point S2||120.22|
|Daily Pivot Point S3||119.54|
|Daily Pivot Point R1||121.66|
|Daily Pivot Point R2||122.35|
|Daily Pivot Point R3||122.72|
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