EUR/JPY Price Analysis: Interim hurdle aligns above 131.00


  • EUR/JPY meets some resistance around the 131.00 area.
  • A drop to recent lows near 129.50 remains in the pipeline.

The upside momentum in EUR/JPY seems to have met a decent hurdle in the 131.00 neighbourhood so far this week. This resistance area coincides with the 100d-day SMA (131.11).

Failure to clear this area should expose further downside and the probable test of the monthly lows in the mid-129.00s in the short-term horizon.

If bulls regain the upper hand, then the so far July peaks around 132.40 (July 1) should emerge as the next target of note. This zone is also reinforced by the proximity of the 50-day SMA (132.32).

The broader outlook for the cross is seen as constructive while it trades above the 200-day SMA, today at 128.22.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 130.51
Today Daily Change 60
Today Daily Change % -0.33
Today daily open 130.94
 
Trends
Daily SMA20 131.63
Daily SMA50 132.39
Daily SMA100 131.13
Daily SMA200 128.25
 
Levels
Previous Daily High 130.99
Previous Daily Low 130.45
Previous Weekly High 131.87
Previous Weekly Low 129.62
Previous Monthly High 134.13
Previous Monthly Low 130.04
Daily Fibonacci 38.2% 130.78
Daily Fibonacci 61.8% 130.66
Daily Pivot Point S1 130.6
Daily Pivot Point S2 130.26
Daily Pivot Point S3 130.06
Daily Pivot Point R1 131.13
Daily Pivot Point R2 131.33
Daily Pivot Point R3 131.67

 

 

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