EUR/JPY Price Analysis: Decent support emerged around 125.00


  • 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

EUR/JPY

Overview
Today last price 126.12
Today Daily Change 102
Today Daily Change % 0.73
Today daily open 125.2
 
Trends
Daily SMA20 126.4
Daily SMA50 125.61
Daily SMA100 124.79
Daily SMA200 122.84
 
Levels
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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