EUR/JPY Price Analysis: Further rangebound likely


  • EUR/JPY extends the choppy activity around 130.00 so far this week.
  • The mid-128.00s should hold the initial test if the downside picks up pace.

EUR/JPY keeps the consolidative mood unchanged around the 130.00 area for yet another session.

Extra consolidation appears on the cards in the very near term ahead of the FOMC event. On the downside, decent contention is located in the 128.50 region, which is also reinforced by a Fibo level (128.54) and the 200-day SMA (128.53).

In the meantime, while above the 200-day SMA at 128.53, the outlook for EUR/JPY is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 130
Today Daily Change 44
Today Daily Change % 0.22
Today daily open 129.72
 
Trends
Daily SMA20 130.45
Daily SMA50 131.89
Daily SMA100 131.24
Daily SMA200 128.57
 
Levels
Previous Daily High 130.32
Previous Daily Low 129.55
Previous Weekly High 130.3
Previous Weekly Low 128.6
Previous Monthly High 134.13
Previous Monthly Low 130.04
Daily Fibonacci 38.2% 129.84
Daily Fibonacci 61.8% 130.03
Daily Pivot Point S1 129.41
Daily Pivot Point S2 129.09
Daily Pivot Point S3 128.64
Daily Pivot Point R1 130.18
Daily Pivot Point R2 130.64
Daily Pivot Point R3 130.95

 

 

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 battles with 1.1700 as the market mood turns sour

Poor German data and renewed concerns about a default of the Chinese Evergrande property giant undermined investors’ sentiment, pushing them into the dollar’s safety.

EUR/USD News

GBP/USD accelerates its slump, trades around 1.3650

GBP/USD is under strong selling pressure, trimming most of its post-BOE gains. Concerns about the global financial health and slow moves towards tapering weigh on markets.

GBP/USD News

XAU/USD hangs near multi-week lows, around $1,745 ahead of Powell

Gold struggled to capitalize on its attempted intraday recovery move. Hawkish Fed/BoE, rising bond yields acted as a headwind for the metal. Resurgent USD demand exerted additional pressure on the commodity.

Gold News

PBoC imposes ban on crypto trading as it fosters ‘illegal financial activity’

PBoC bans crypto trading activities and a plethora of associated services, labeling it “illegal.” Overseas cryptocurrency exchanges providing services to Chinese residents will be investigated in accordance with the law. 

Read more

Evergrande, VIX and yields make for choppy day ahead

Equity markets remain focused on Evergrande as rumours of a possible default on overseas debt swirl. The market appears to be on the hunt for negative news, which leads us to conclude that stocks are going lower in the short term.

Read more

Forex MAJORS

Cryptocurrencies

Signatures