EUR/JPY Price Analysis: Decent support emerged near 132.50


  • EUR/JPY reverses the recent weakness near the 132.50 level.
  • The recovery targets the 2021 highs above 134.00.

EUR/JPY manages to regain some upside traction following two consecutive daily pullbacks on Monday.

Following a decent contention in the 132.50 region, the ongoing bullish attempt could extend further, with are no relevant hurdles until de YTD highs past 134.00 the figure.

Further north comes in the September/October 2017 highs in the 134.40/50. Further gains appear likely as long as the cross remains underpinned by the immediate support line (off the March lows) near 131.70. This area is also reinforced by the proximity of the 50-day SMA (131.93).

In the broader picture, while above the 200-day SMA at 127.45 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 132.94
Today Daily Change 32
Today Daily Change % 0.09
Today daily open 132.82
 
Trends
Daily SMA20 133.3
Daily SMA50 131.92
Daily SMA100 130.12
Daily SMA200 127.46
 
Levels
Previous Daily High 133.41
Previous Daily Low 132.66
Previous Weekly High 133.76
Previous Weekly Low 132.66
Previous Monthly High 134.06
Previous Monthly Low 130.98
Daily Fibonacci 38.2% 132.95
Daily Fibonacci 61.8% 133.13
Daily Pivot Point S1 132.52
Daily Pivot Point S2 132.22
Daily Pivot Point S3 131.77
Daily Pivot Point R1 133.27
Daily Pivot Point R2 133.72
Daily Pivot Point R3 134.02

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD eases below 1.1900, Eurozone GDP, US PCE Inflation eyed

EUR/USD holds the lower ground below 1.1900 amid broad-based US dollar rebound. The dollar benefits from covid woes, ignores Treasury yields pullback. US GDP backs Fed’s resistance to discuss tapering. A busy docket ahead, with focus on Eurozone GDP and US PCE inflation.

EUR/USD News

GBP/USD retreats toward 1.3950 as USD rebounds

GBP/USD pauses the advance and retreats towards 1.3850 ahead of the London open. The US dollar rebounds toward 92.00 after hitting a one-month low. Sterling remains underpinned on hopes that the BOE could be less dovish further due to a steady decline in the UK’s covid cases.

GBP/USD News

Gold retreats from a two-week high near $1,840

Gold prices edge lower on Friday, after testing a two-week high near $1840 on Thursday. The prices were gained for the third straight session on weaker US Dollar and signal by the US Fed that taper could be delayed as there is still a long way to substantial progress. 

Gold News

Ripple bulldozes resistance, eyes $1.00

XRP price rebound has taken on an impulsive tone, lifting the cross-border remittances token near the convergence of the 200-day SMA with the longstanding inverse head-and-shoulders neckline around $0.775. Ripple falls short of triggering a double bottom pattern.

Read more

US Core PCE Price Index June Preview: Bad will not be bad enough

Inflation is rampant. Consumers, politicians, and economists have noticed. Even the Federal Reserve has concerns, though not enough to modify the easy money policy that is abetting the increases. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures