EUR/JPY Price Analysis: Outlook remains unclear

EUR/JPY resumes the downside and retests 130.50.
Upside remains limited by the 131.50/60 band so far.

Pablo Piovano FXStreet

EUR/JPY fades the initial move further north of the 131.00 mark and sparked a moderate pullback to the mid-130.00s soon afterwards on Tuesday.

Price action remains inconclusive around the cross for the time being, with gains capped by the so far YTD top at 131.60 (January 5) and the 130.00 neighbourhood offering some decent contention.

The inability of EUR/JPY to surpass the 131.50/60 band in a convincing fashion, ideally in the near term, should shift the bias towards the downside.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.65
Today Daily Change	70
Today Daily Change %	-0.07
Today daily open	130.74

Trends
Daily SMA20	130.41
Daily SMA50	129.48
Daily SMA100	130.03
Daily SMA200	130.58

Levels
Previous Daily High	130.83
Previous Daily Low	130.25
Previous Weekly High	131.48
Previous Weekly Low	129.78
Previous Monthly High	131.04
Previous Monthly Low	127.38
Daily Fibonacci 38.2%	130.61
Daily Fibonacci 61.8%	130.47
Daily Pivot Point S1	130.39
Daily Pivot Point S2	130.03
Daily Pivot Point S3	129.82
Daily Pivot Point R1	130.96
Daily Pivot Point R2	131.18
Daily Pivot Point R3	131.54

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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