- 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|
|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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