EUR/JPY Price Analysis: Looks consolidative near term


  • EUR/JPY reverses Thursday’s pullback and regains 130.00.
  • Next on the upside comes in the 131.00 zone.

After bottoming out in the mid-128.00s in the first half of the week, EUR/JPY’s bullish attempt have so far faltered in levels just above 130.00 the figure.

The continuation of the recovery is expected to come in response to the better mood in the risk complex and could extend to the 131.00 neighbourhood, where sits weekly highs. The proximity of the 100-day SMA (131.17) reinforces this hurdle. The surpass of this area should mitigate the downside pressure.

In the meantime, a move to the 200-day SMA around 128.44 should also be negated if the cross manages to clear 131.00, ideally in the very short term.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 130
Today Daily Change 66
Today Daily Change % 0.27
Today daily open 129.65
 
Trends
Daily SMA20 130.74
Daily SMA50 132.06
Daily SMA100 131.21
Daily SMA200 128.48
 
Levels
Previous Daily High 130.3
Previous Daily Low 129.49
Previous Weekly High 131.09
Previous Weekly Low 129.61
Previous Monthly High 134.13
Previous Monthly Low 130.04
Daily Fibonacci 38.2% 129.8
Daily Fibonacci 61.8% 129.99
Daily Pivot Point S1 129.32
Daily Pivot Point S2 129
Daily Pivot Point S3 128.51
Daily Pivot Point R1 130.14
Daily Pivot Point R2 130.62
Daily Pivot Point R3 130.95

 

 

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