EUR/JPY Price Analysis: Further decline could test the 122.90 region


  • EUR/JPY extends the bearish note and breaches 124.00.
  • Further south emerges the key contention area around 122.90.

EUR/JPY remains under heavy pressure and is now flirting with the 3-month support line in the 123.60 zone.

The bearish impulse is gathering extra steam and a break below this support line should expose a test of the major contention area around 122.90, where coincide the January peaks and the late-July lows.

The positive stance on EUR/JPY is forecasted to remain unaltered as long as the 200-day SMA, today at 120.83, holds the downside.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 123.56
Today Daily Change 77
Today Daily Change % -0.35
Today daily open 124
 
Trends
Daily SMA20 125.47
Daily SMA50 124.57
Daily SMA100 121.94
Daily SMA200 120.86
 
Levels
Previous Daily High 125.02
Previous Daily Low 123.84
Previous Weekly High 126.46
Previous Weekly Low 124.43
Previous Monthly High 126.85
Previous Monthly Low 123.99
Daily Fibonacci 38.2% 124.29
Daily Fibonacci 61.8% 124.57
Daily Pivot Point S1 123.56
Daily Pivot Point S2 123.11
Daily Pivot Point S3 122.38
Daily Pivot Point R1 124.73
Daily Pivot Point R2 125.46
Daily Pivot Point R3 125.91

 

 

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