EUR/JPY Price Analysis: Interim hurdle awaits around 130.70/85.


  • EUR/JPY reverses two consecutive daily advances, sits below 132.00.
  • Gains look capped by the 130.70/85 band.

EUR/JPY’s recovery seems to have met a decent hurdle in the mid-132.00s for the time being.

While further consolidation looks likely in the near term, price action in the cross is expected to hinge exclusively on the results from US NFP due later in the session.

That said, extra gains need to surpass the 132.70/85 zone, where coincides weekly highs and the resistance line off 2021 lows (January 18). On the downside, the 100-day SMA at 130.90 should hold the initial test in case sellers regain the upper hand.

In the broader picture, while above the 200-day SMA at 127.97 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 131.75
Today Daily Change 53
Today Daily Change % -0.31
Today daily open 132.16
 
Trends
Daily SMA20 132.43
Daily SMA50 132.44
Daily SMA100 130.9
Daily SMA200 128
 
Levels
Previous Daily High 132.43
Previous Daily Low 131.56
Previous Weekly High 132.7
Previous Weekly Low 130.04
Previous Monthly High 134.13
Previous Monthly Low 130.04
Daily Fibonacci 38.2% 132.1
Daily Fibonacci 61.8% 131.9
Daily Pivot Point S1 131.67
Daily Pivot Point S2 131.18
Daily Pivot Point S3 130.8
Daily Pivot Point R1 132.54
Daily Pivot Point R2 132.92
Daily Pivot Point R3 133.41

 

 

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