EUR/JPY Price Analysis: Current pullback appears short-lived

EUR/JPY corrects lower after failing at the key hurdle around 125.00.
Further north of the 125.00 level comes in an interim barrier at 126.46.

Pablo Piovano FXStreet

EUR/JPY’s strong rebound met a tough barrier at the key resistance zone in the 125.00 neighbourhood on Tuesday.

The surpass of this area, ideally in the very near-term, should open the door to a test of the interim hurdle at the September 10 highs in the mid-126.00s

In the meantime, while above the 200-day SMA at 121.09, the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	124.25
Today Daily Change	64
Today Daily Change %	-0.37
Today daily open	124.71

Trends
Daily SMA20	123.87
Daily SMA50	124.73
Daily SMA100	123.51
Daily SMA200	121.11

Levels
Previous Daily High	125
Previous Daily Low	124.04
Previous Weekly High	125.02
Previous Weekly Low	123.02
Previous Monthly High	127.08
Previous Monthly Low	122.38
Daily Fibonacci 38.2%	124.63
Daily Fibonacci 61.8%	124.4
Daily Pivot Point S1	124.16
Daily Pivot Point S2	123.62
Daily Pivot Point S3	123.2
Daily Pivot Point R1	125.13
Daily Pivot Point R2	125.55
Daily Pivot Point R3	126.09

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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