EUR/JPY Price Analysis: Extra consolidation looks likely near-term

EUR/JPY appears to be stabilizing in the sub-123.00 region.
Immediately to the downside comes in the 100-day SMA at 122.35.

Pablo Piovano FXStreet

EUR/JPY looks side-lined around the key 122.90 region so far on Thursday. This area is coincident with January’s peak (122.87).

The recent selling pressure seems to have met decent contention in the mid-122.00s for the time being. If cleared, there is a minor support at the 100-day SMA at 122.35 ahead of the critical 200-day SMA, today at 120.87.

Below the 200-day SMA the outlook on the cross is expected to shift to bearish.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	122.8
Today Daily Change	53
Today Daily Change %	-0.08
Today daily open	122.9

Trends
Daily SMA20	124.98
Daily SMA50	124.75
Daily SMA100	122.3
Daily SMA200	120.89

Levels
Previous Daily High	123.19
Previous Daily Low	122.58
Previous Weekly High	125.9
Previous Weekly Low	123.32
Previous Monthly High	126.85
Previous Monthly Low	123.99
Daily Fibonacci 38.2%	122.96
Daily Fibonacci 61.8%	122.81
Daily Pivot Point S1	122.59
Daily Pivot Point S2	122.28
Daily Pivot Point S3	121.98
Daily Pivot Point R1	123.2
Daily Pivot Point R2	123.5
Daily Pivot Point R3	123.82

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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