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


  • EUR/JPY’s weekly range appears supported in the 128.30/20 band so far.
  • Immediately to the upside emerges the YTD high near 130.00.

EUR/JPY adds to Monday’s small gains and edge slightly higher, although still capped by the 129.00 neighbourhood so far this week.

If bulls regain control of the sentiment, then the next target will emerge at the 2021 highs just below 130.00 (February 25). Further north of this area comes in 130.14 (November 7 2018) ahead of the summer 2018 high at 131.98 (July 17).

Reinforcing the idea of extra gains, EUR/JPY keeps trading above the immediate support line (off November 19 2020 low) near 126.80, where also converges the 50-day SMA.

Looking at the broader picture, while above the 200-day SMA at 124.35 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 128.6
Today Daily Change 58
Today Daily Change % 0.00
Today daily open 128.6
 
Trends
Daily SMA20 127.53
Daily SMA50 126.81
Daily SMA100 125.58
Daily SMA200 124.41
 
Levels
Previous Daily High 128.94
Previous Daily Low 128.22
Previous Weekly High 129.98
Previous Weekly Low 127.5
Previous Monthly High 129.98
Previous Monthly Low 126.1
Daily Fibonacci 38.2% 128.5
Daily Fibonacci 61.8% 128.67
Daily Pivot Point S1 128.23
Daily Pivot Point S2 127.87
Daily Pivot Point S3 127.51
Daily Pivot Point R1 128.95
Daily Pivot Point R2 129.3
Daily Pivot Point R3 129.67

 

 

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