- EUR/JPY manages to bounce off recent lows near 125.00.
- Next on the upside appears the 2021 high in the mid-127.00s.
The resumption of the upside bias allows for extra gains in EUR/JPY the near-term with the next target at the YTD peaks in the 127.50 region. On the opposite side, if sellers regain control of the market, then a move below the 125.00 area should not be ruled out.
A breakdown of this region should expose the 100-day SMA at 124.75 ahead of the Fibo retracement (of the October-January rally) at 124.55.
Looking at the broader picture, while above the 200-day SMA at 122.76 the outlook for the cross should remain constructive.
EUR/JPY daily chart
|Today last price||126.12|
|Today Daily Change||102|
|Today Daily Change %||0.73|
|Today daily open||125.2|
|Previous Daily High||125.49|
|Previous Daily Low||125.09|
|Previous Weekly High||127.11|
|Previous Weekly Low||125.41|
|Previous Monthly High||127.24|
|Previous Monthly Low||124.38|
|Daily Fibonacci 38.2%||125.24|
|Daily Fibonacci 61.8%||125.34|
|Daily Pivot Point S1||125.03|
|Daily Pivot Point S2||124.86|
|Daily Pivot Point S3||124.63|
|Daily Pivot Point R1||125.43|
|Daily Pivot Point R2||125.66|
|Daily Pivot Point R3||125.83|
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