EUR/JPY Price Analysis: Next on the downside comes in 132.50


  • EUR/JPY extends the weakness well below the 133.00 level.
  • The mid-132.00s emerge as the next area of contention.

EUR/JPY gathers further selling pressure and already tests the initial support zone around the 133.00/132.90 band on Friday.

If the selling pressure gathers extra steam, then the cross could attempt a deeper pullback to, initially, the weekly lows near 132.50 (May 24). Further south comes in the 131.88/64 band, where coincides the 50-day SMA and the short-term support line.

In the broader picture, while above the 200-day SMA at 127.41 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 132.91
Today Daily Change 57
Today Daily Change % -0.14
Today daily open 133.1
 
Trends
Daily SMA20 133.29
Daily SMA50 131.87
Daily SMA100 130.06
Daily SMA200 127.42
 
Levels
Previous Daily High 133.76
Previous Daily Low 133.04
Previous Weekly High 134.13
Previous Weekly Low 133.14
Previous Monthly High 134.06
Previous Monthly Low 130.98
Daily Fibonacci 38.2% 133.32
Daily Fibonacci 61.8% 133.49
Daily Pivot Point S1 132.85
Daily Pivot Point S2 132.59
Daily Pivot Point S3 132.13
Daily Pivot Point R1 133.56
Daily Pivot Point R2 134.02
Daily Pivot Point R3 134.28

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

GME stock positioned for another short squeeze

Get the full analysis and chart in our Insights. Upgrade to Premium today    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD falls from highs as the dollar catches a bid ahead of data

EUR/USD has turned south, trading under 1.2150 as the dollar recovers alongside Treasury yields. US Consumer Sentiment is awaited. Earlier, the euro shrugged off the ECB's dovish, no-tapering stance. 

EUR/USD News

GBP/USD retreats amid UK GDP miss, reopening concerns

GBP/USD is hovering around 1.4150, down on the day. UK GDP missed with 2.3% in April and a four-week delay to Britain's reopening is speculated. The greenback is gaining some ground.

GBP/USD News

XAU/USD drops back below $1900, as US dollar rebounds ahead of data

Gold price has retraced below the $1900 mark once again, having tested Tuesday’s high near $1903. The latest leg down in gold price comes on the back of a tepid bounce staged by the US dollar, as the Treasury yields trim losses across the curve.

Gold News

Ethereum price prepares for a bullish weekend, targeting $3,000

Ethereum price seems prime to revisit $3,000. Although ETH faces resistance at $2,300, the upswing seems imminent. A downswing below $2,000 could invalidate the bullish thesis. 

Read more

Hot Inflation is warming the seat for the June FOMC

Americans are seeing the fastest price increases since their seventh-graders were born as inflation builds into the US economy from the disruptions of the pandemic lockdowns. Core CPI at 3.8% is the steepest gain in 29 years.

Read more

Forex MAJORS

Cryptocurrencies

Signatures