EUR/JPY Price Analysis: Downside pressure stays in place so far


  • EUR/JPY’s retracement met support in the 122.80 region so far.
  • Immediately to the downside appears September’s lows near 122.40.

EUR/JPY looks to put further distance from weekly lows near 122.80 (Thursday), although a serious bullish attempt lacks conviction for the time being.

In the meantime, odds for a move lower remain well on the cards with the next support of note at the September’s lows in the 122.40 zone. If breached, then a re-visit to the so far monthly lows in the 121.60 region should not be ruled out in the short-term horizon.

The downside pressure is expected to accelerate if EUR/JPY breaks below the latter, exposing the key 200-day SMA, today at 121.38.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 123.26
Today Daily Change 42
Today Daily Change % -0.01
Today daily open 123.27
 
Trends
Daily SMA20 123.23
Daily SMA50 123.68
Daily SMA100 123.98
Daily SMA200 121.39
 
Levels
Previous Daily High 123.32
Previous Daily Low 122.85
Previous Weekly High 125.14
Previous Weekly Low 122.68
Previous Monthly High 125.09
Previous Monthly Low 121.62
Daily Fibonacci 38.2% 123.14
Daily Fibonacci 61.8% 123.03
Daily Pivot Point S1 122.97
Daily Pivot Point S2 122.67
Daily Pivot Point S3 122.49
Daily Pivot Point R1 123.44
Daily Pivot Point R2 123.62
Daily Pivot Point R3 123.92

 

 

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