EUR/JPY Price Analysis: Extra rangebound looks likely


  • EUR/JPY extends the choppy activity around 124.00.
  • Immediately to the upside emerges the 125.00 hurdle.

EUR/JPY remains side-lined between the 100-day and the 55-day SMAs at 123.50 and 124.65, respectively, for the time being.

Further consolidations appears likely amidst a broad-based cautious stance in the global markets. A move below the 100-day SMA should open the door to extra losses to the key support at monthly lows in the 123.00 neighbourhood. On the upside, the 125.00 region keeps capping the occasional bullish attempts.

In the meantime, while above the 200-day SMA at1 121.11,  the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 124
Today Daily Change 43
Today Daily Change % -0.17
Today daily open 124.21
 
Trends
Daily SMA20 124.04
Daily SMA50 124.6
Daily SMA100 123.53
Daily SMA200 121.14
 
Levels
Previous Daily High 124.25
Previous Daily Low 123.41
Previous Weekly High 125
Previous Weekly Low 123.33
Previous Monthly High 127.08
Previous Monthly Low 122.38
Daily Fibonacci 38.2% 123.93
Daily Fibonacci 61.8% 123.73
Daily Pivot Point S1 123.67
Daily Pivot Point S2 123.12
Daily Pivot Point S3 122.83
Daily Pivot Point R1 124.5
Daily Pivot Point R2 124.79
Daily Pivot Point R3 125.33

 

 

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