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EUR/JPY Price Analysis: Euro takes a breather below 117.50 resistance

  • EUR/JPY consolidates the sharp advance made this Thursday after the ECB. 
  • More consolidation is likely below the 117.50 resistance. 
 

EUR/JPY four-hour chart

 
Euro/Yen turned higher after the ECB press conference this Thursday. The spot is consolidating the advance below the 200 SMA and the 117.75 resistance level. A daily close above this barrier is necessary for the quote to potentially build on the recent recovery. On the flip side, the underlying trend remains negative for EU/JPY a daily drop below the 117.00 figure can attract further selling to lower levels.  
 
 
Resistance: 117.50, 118.50, 119.60
Support: 117.00, 116.50, 116.00 
 
 

Additional key levels

EUR/JPY

Overview
Today last price117.54
Today Daily Change0.17
Today Daily Change %0.14
Today daily open117.37
 
Trends
Daily SMA20117.18
Daily SMA50118.4
Daily SMA100119.73
Daily SMA200119.52
 
Levels
Previous Daily High117.78
Previous Daily Low115.55
Previous Weekly High117.29
Previous Weekly Low115.54
Previous Monthly High119.04
Previous Monthly Low115.45
Daily Fibonacci 38.2%116.93
Daily Fibonacci 61.8%116.4
Daily Pivot Point S1116.02
Daily Pivot Point S2114.67
Daily Pivot Point S3113.8
Daily Pivot Point R1118.25
Daily Pivot Point R2119.13
Daily Pivot Point R3120.48

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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