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


Today last price 123.43
Today Daily Change 51
Today Daily Change % 0.25
Today daily open 123.12
Daily SMA20 123.17
Daily SMA50 123.63
Daily SMA100 124
Daily SMA200 121.41
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



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 on the way to 1.1280 key support

EUR/USD fails to cheer greenback weakness, stays depressed around 1.1310 during the initial Asian session on Friday. While portraying the sober mood of the major pair traders, the quote remains below 200-SMA for the first time in a fortnight.


GBP/USD struggles around 1.3600 on BOE, Brexit concerns ahead of UK Retail Sales

GBP/USD differs from other risk-sensitive currency pairs to remain inactive around 1.3590-95 during early Friday. In doing so, the cable pair struggles to justify the risk-off mood amid contrasting signals concerning Brexit and the Bank of England’s (BOE) next move ahead of the key UK Retail Sales for December.


Gold steadies below $1,850 amid risk aversion, pre-Fed anxiety

Gold prices remain pressured around intraday low surrounding $1,836, mostly inactive during early Friday. The yellow metal struggles for a clear direction after stepping back from the key resistance line the previous day.

Gold News

Litecoin smashed against resistance as LTC collapses towards six-month lows

Litecoin price continues to trend lower, threatening to create new six-month lows, perhaps even surpassing the 2021 lows. Litecoin price action may soon entice a large number of sellers still on the sidelines to finally commit to some short positions.

Read more

When real rates are negative for a sustained period, is it a sign of looming recession?

We agree that inflation should moderate this year due to the money side of things, but worry that monetary policy is powerless against most of the supply chain issues, commodity prices, greedy consumer goods companies, and that weird labor shortage.

Read more