EUR/JPY Price Analysis: Downside pressure alleviated above 124.00


  • EUR/JPY bounces off lows and tests the mid-123.00s.
  • The 100-day SMA around 124.00 emerges as the next target.

EUR/JPY rebounds from last week’s lows in the sub-123.00 area and manages to reclaim the 123.50 region on Monday.

In the meantime, while further pullbacks are not ruled out, a break above the 100-day SMA in the 124.00 neighbourhood should mitigate the selling pressure and allow for further upside to, initially, the monthly peaks just past 125.00 the figure.

Further losses are expected to accelerate if EUR/JPY breaks below last week’s lows in the 122.80 zone, exposing the key 200-day SMA, today at 121.40.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 123.43
Today Daily Change 51
Today Daily Change % 0.25
Today daily open 123.12
 
Trends
Daily SMA20 123.17
Daily SMA50 123.63
Daily SMA100 124
Daily SMA200 121.41
 
Levels
Previous Daily High 123.48
Previous Daily Low 123.01
Previous Weekly High 124.44
Previous Weekly Low 122.85
Previous Monthly High 125.09
Previous Monthly Low 121.62
Daily Fibonacci 38.2% 123.19
Daily Fibonacci 61.8% 123.3
Daily Pivot Point S1 122.92
Daily Pivot Point S2 122.73
Daily Pivot Point S3 122.45
Daily Pivot Point R1 123.39
Daily Pivot Point R2 123.67
Daily Pivot Point R3 123.87

 

 

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