- EUR/JPY reverses the recent weakness and rebounds to 128.50.
- Key contention area remains around the 128.00 zone.
EUR/JPY reverses five straight days with losses and manages to retake the mid-128.00s on the back of the better mood around the single currency.
Further upside faces interim hurdle at the 10-day SMA at 129.29 ahead of a Fibo level near 129.40. Extra gains are expected to challenge the 200-day SMA at 129.57. Above the latter, the downside pressure is seen mitigating somewhat.
While below the 200-day SMA the outlook for the cross should remain bearish for the time being.
EUR/JPY daily chart
|Today last price||128.52|
|Today Daily Change||52|
|Today Daily Change %||0.10|
|Today daily open||128.39|
|Previous Daily High||129.31|
|Previous Daily Low||128.14|
|Previous Weekly High||130.2|
|Previous Weekly Low||128.61|
|Previous Monthly High||130.42|
|Previous Monthly Low||127.93|
|Daily Fibonacci 38.2%||128.59|
|Daily Fibonacci 61.8%||128.86|
|Daily Pivot Point S1||127.92|
|Daily Pivot Point S2||127.45|
|Daily Pivot Point S3||126.75|
|Daily Pivot Point R1||129.09|
|Daily Pivot Point R2||129.78|
|Daily Pivot Point R3||130.25|
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