EUR/JPY Price Analysis: Immediate support aligns in the 124.40/30 band

  • EUR/JPY extends the downside and breaks below 125.00.
  • There is an interim contention zone around 124.40/30.

EUR/JPY accelerates the leg lower and drops to multi-day lows in the sub-125.00 area on Wednesday.

The bearish sentiment is picking up pace and faces the next support area in the 124.40/30 band, where converge September/late August lows and the 55-day SMA. A more serious pullback faces the 3-month support line in the mid-123.00 ahead of the key 122.90 zone.

The positive stance on EUR/JPY is forecasted to remain unaltered as long as the 200-day SMA, today at 120.82, holds the downside.

EUR/JPY daily chart


Today last price 124.84
Today Daily Change 49
Today Daily Change % -0.06
Today daily open 124.92
Daily SMA20 125.55
Daily SMA50 124.52
Daily SMA100 121.86
Daily SMA200 120.84
Previous Daily High 125.77
Previous Daily Low 124.76
Previous Weekly High 126.46
Previous Weekly Low 124.43
Previous Monthly High 126.85
Previous Monthly Low 123.99
Daily Fibonacci 38.2% 125.14
Daily Fibonacci 61.8% 125.38
Daily Pivot Point S1 124.53
Daily Pivot Point S2 124.14
Daily Pivot Point S3 123.51
Daily Pivot Point R1 125.54
Daily Pivot Point R2 126.16
Daily Pivot Point R3 126.55



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