EUR/JPY Price Analysis: Important resistance emerges at 118.50

  • EUR/JPY’s recovery met a tough hurdle in the mid-118.00s.
  • Immediately to the upside emerges the key barrier in the 119.00 area.

The upside momentum in EUR/JPY lost traction in the 118.50 region in the second half of the week on the back of renewed demand for the safe haven JPY.

The leg lower carries the potential to extend initially to April’s lows in the 115.50 zone.

If this area is cleared, then there are no relevant support levels until the 2020 low in the mid-114.00s.

EUR/JPY daily chart


Today last price 117.18
Today Daily Change 85
Today Daily Change % -0.54
Today daily open 117.82
Daily SMA20 116.36
Daily SMA50 117.5
Daily SMA100 118.93
Daily SMA200 119.31
Previous Daily High 118.52
Previous Daily Low 117.73
Previous Weekly High 116.86
Previous Weekly Low 115.3
Previous Monthly High 119.04
Previous Monthly Low 115.45
Daily Fibonacci 38.2% 118.03
Daily Fibonacci 61.8% 118.22
Daily Pivot Point S1 117.52
Daily Pivot Point S2 117.23
Daily Pivot Point S3 116.73
Daily Pivot Point R1 118.31
Daily Pivot Point R2 118.81
Daily Pivot Point R3 119.11



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