EUR/JPY Price Analysis: Extra losses remain well on the cards


  • EUR/JPY extends the leg lower well below 130.00 midweek.
  • Interim support now emerges in the mid-128.00s.

EUR/JPY adds to Tuesday’s pullback and breaches the psychological 130.00 level with certain conviction.

The breakdown of the critical 200-day SMA (129.52) opens the taps for a deeper pullback in the very near term. That said, there is an interim support at the Fibo level (of the June-August drop) at 129.39 ahead of the YTD low at 127.93 (August 19).

The sustainable break below the 200-day SMA should shift the outlook for EUR/JPY to bearish (from constructive).

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 129.29
Today Daily Change 34
Today Daily Change % -0.14
Today daily open 129.47
 
Trends
Daily SMA20 129.62
Daily SMA50 129.73
Daily SMA100 131.1
Daily SMA200 129.55
 
Levels
Previous Daily High 130.2
Previous Daily Low 129.36
Previous Weekly High 130.7
Previous Weekly Low 129.67
Previous Monthly High 130.42
Previous Monthly Low 127.93
Daily Fibonacci 38.2% 129.68
Daily Fibonacci 61.8% 129.88
Daily Pivot Point S1 129.16
Daily Pivot Point S2 128.84
Daily Pivot Point S3 128.32
Daily Pivot Point R1 129.99
Daily Pivot Point R2 130.51
Daily Pivot Point R3 130.82

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD remains pressured after US data misses estimates

EUR/USD is trading closer to 1.1750, paring its recovery from earlier in the day as the safe-haven dollar is bid. US Consumer Sentiment missed estimates with 72 points in September. The financial woes of China's Evergrande are weighing on sentiment.

EUR/USD News

GBP/USD trades under 1.38 amid on UK data, dollar strength

GBP/USD is on the back foot, trading under 1.38 after UK Retail Sales figures disappointed with -0.9% in August, worse than expected. Brexit uncertainty and dollar demand weighed on the pair earlier. 

GBP/USD News

XAU/USD surrenders intraday gains, drops closer to $1,750 level

Gold struggled to preserve its intraday gains and dropped to the lower end of the daily trading range during the early North American session. 

Gold News

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing. Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more

Forex MAJORS

Cryptocurrencies

Signatures