EUR/JPY Price Analysis: Decent contention aligns near 128.50

  • EUR/JPY reverses the recent advance and drops below 130.00.
  • The mid-128.00s should hold the initial test if the downside picks up pace.

After a failed attempt to break above the 130.30 area, EUR/JPY comes under selling pressure and slips back below the 130.00 mark on turnaround Tuesday.

Further rangebound appears in the pipeline, although extra weakness should not be ruled out, at least in the very near term. Against this, the cross risks another test of recent lows in the 128.50 region. This key area of contention is also reinforced by a Fibo level (128.54) and the 200-day SMA (128.50).

In the meantime, while above the 200-day SMA at 128.50, the outlook for EUR/JPY is expected to remain constructive.

EUR/JPY daily chart


Today last price 129.62
Today Daily Change 76
Today Daily Change % -0.52
Today daily open 130.3
Daily SMA20 130.54
Daily SMA50 131.96
Daily SMA100 131.23
Daily SMA200 128.54
Previous Daily High 130.35
Previous Daily Low 129.68
Previous Weekly High 130.3
Previous Weekly Low 128.6
Previous Monthly High 134.13
Previous Monthly Low 130.04
Daily Fibonacci 38.2% 130.09
Daily Fibonacci 61.8% 129.93
Daily Pivot Point S1 129.87
Daily Pivot Point S2 129.43
Daily Pivot Point S3 129.19
Daily Pivot Point R1 130.54
Daily Pivot Point R2 130.78
Daily Pivot Point R3 131.21



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