• EUR/JPY bounces off recent lows in the 128.20 region on Wednesday.
  • The cross could still attempt a move to the December 2021 low (127.50).

EUR/JPY seems to have met some dip buyers in the 128.20 region (January 25).

Price action in the cross keeps signalling a scenario of lower prices for the time being. Indeed, EUR/JPY accelerated the losses following the convincing breakdown of the key 200-day SMA (130.50) in past sessions, opening the door to a potential drop to the December 2021 low near 127.50 (December 3).

While below the 200-day SMA, the outlook for the cross is expected to remain negative.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 128.79
Today Daily Change 32
Today Daily Change % 0.02
Today daily open 128.76
 
Trends
Daily SMA20 130.31
Daily SMA50 129.34
Daily SMA100 129.96
Daily SMA200 130.55
 
Levels
Previous Daily High 129.2
Previous Daily Low 128.25
Previous Weekly High 131.18
Previous Weekly Low 128.56
Previous Monthly High 131.04
Previous Monthly Low 127.38
Daily Fibonacci 38.2% 128.61
Daily Fibonacci 61.8% 128.84
Daily Pivot Point S1 128.27
Daily Pivot Point S2 127.78
Daily Pivot Point S3 127.32
Daily Pivot Point R1 129.22
Daily Pivot Point R2 129.69
Daily Pivot Point R3 130.18

 

 

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