EUR/JPY Price Analysis: Off intraday low but not out of the bears’ radar

  • EUR/JPY struggles to keep recovery moves from 123.11.
  • Three-day-old faling trend line, weekly resistance trend line favor sellers.
  • RSI pullback from oversold territory pushes the bulls to await break of 123.50.

EUR/JPY pulls back from an intraday low of 123.11 to 123.23 ahead of Friday’s European session. However, the quote prints 0.18% intraday losses while staying below multiple resistance lines.

Among them, the first one drops from this Tuesday, at 123.35 now, ahead of a bit broader one from October 09, currently around 123.50.

While RSI recovery from the nearly oversold area suggests the pair’s further recovery, a clear break of 1203.50 becomes necessary for the EUR/JPY bulls before aiming 124.45 and the weekly top near 125.00.

On the contrary, a clear downside below 123.00 can take a rest on the upward sloping support line from June 19, around 122.90, a break of which will attack the previous month’s low near 122.30.

If at all the bears remain dominant past-122.30, the 122.00 threshold will be the key as it holds the gate for the EUR/JPY slump towards the 120.00 psychological magnet.

EUR/JPY daily chart

Trend: Bearish

Additional important levels

Today last price 123.24
Today Daily Change -0.21
Today Daily Change % -0.17%
Today daily open 123.45
Daily SMA20 123.75
Daily SMA50 124.77
Daily SMA100 123.39
Daily SMA200 121.09
Previous Daily High 123.78
Previous Daily Low 123.02
Previous Weekly High 125.09
Previous Weekly Low 123.32
Previous Monthly High 127.08
Previous Monthly Low 122.38
Daily Fibonacci 38.2% 123.31
Daily Fibonacci 61.8% 123.49
Daily Pivot Point S1 123.05
Daily Pivot Point S2 122.66
Daily Pivot Point S3 122.3
Daily Pivot Point R1 123.81
Daily Pivot Point R2 124.17
Daily Pivot Point R3 124.57



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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces from 1.18 after robust German Manufacturing PMI

EUR/USD is trading above 1.18 after German Manufacturing PMI beat estimates. Other PMIs missed expectations. US fiscal stimulus and the election developments are eyed.


GBP/USD retreats amid mixed Brexit headlines

GBP/USD has retreated from the highs around 1.31 after UK minister Truss reiterated that the UK could leave without a deal. Ireland´s Coveney expressed more optimism. UK retail sales beat estimates while PMIs were mixed.


XAU/USD's reversal from $1,914 contained at $1,895 support area

Gold’s upside attempt witnessed during the Asian and European trading sessions has been halted at $1,914 on the Early US session as market sentiment plunged and the precious metal has dropped to find support at $1,895.

Gold News

Forex Today: Dollar clings to gains after the presidential debate, Bitcoin extends gains, PMIs eyed

The US dollar is holding onto Thursday's recovery, The presidential debate was more civilized than the previous one and post-event opinion polls are awaited. Earlier, hopes for a stimulus bill faded and allowed the dollar to recover. PMIs and COVID-19 statistics stand out on Friday.

Read more

WTI hits one-week low at $39.55 after Baker Hughes’ report

Front-month WTI futures’ reversal from day tops near $41 has extended to one-week lows at $39.55 on Friday after Baker Hughes reported that US oil and gas rigs increased to their highest level since May last week.

Oil News