EUR/JPY Price Analysis: Recovery targets 124.00 and above

  • EUR/JPY gains further upside momentum beyond 123.00 on Tuesday.
  • The 3-month resistance line emerges as the next interim hurdle.

EUR/JPY posts decent gains and adds to Monday’s advance above 123.00 the figure amidst the better tone in the risk complex.

The cross managed to regain attention after bottoming out in the 122.40 area on Monday, where also converges the 100-day SMA. Further upside looks likely and could initially extend to the 3-month resistance line in the 124.20 zone.

Above the 200-day SMA, today at 120.89, the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart


Today last price 123.42
Today Daily Change 52
Today Daily Change % 0.25
Today daily open 123.11
Daily SMA20 124.54
Daily SMA50 124.79
Daily SMA100 122.51
Daily SMA200 120.92
Previous Daily High 123.21
Previous Daily Low 122.38
Previous Weekly High 123.94
Previous Weekly Low 122.52
Previous Monthly High 126.85
Previous Monthly Low 123.99
Daily Fibonacci 38.2% 122.89
Daily Fibonacci 61.8% 122.7
Daily Pivot Point S1 122.59
Daily Pivot Point S2 122.07
Daily Pivot Point S3 121.75
Daily Pivot Point R1 123.42
Daily Pivot Point R2 123.73
Daily Pivot Point R3 124.25



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