EUR/JPY Price Analysis: Rising bets for a breach of 123.00


  • EUR/JPY extends the bearish note and trades in the mid-123.00s.
  • Further south emerges the key contention area around 122.90.

EUR/JPY remains under heavy downside pressure and it has broken below the 3-month support line in the 123.70/75 band.

The bearish impulse is gathering extra steam and a convincing breakdown of this support line should expose a test of the major contention area around 122.90, where coincide the January peaks and the late-July lows.

The next critical target on the downside emerges at the 200-day SMA at 120.84. Below this area, the outlook on the cross is expected to shift to bearish.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 123.61
Today Daily Change 83
Today Daily Change % -0.39
Today daily open 124.1
 
Trends
Daily SMA20 125.4
Daily SMA50 124.64
Daily SMA100 122.01
Daily SMA200 120.87
 
Levels
Previous Daily High 124.14
Previous Daily Low 123.32
Previous Weekly High 126.46
Previous Weekly Low 124.43
Previous Monthly High 126.85
Previous Monthly Low 123.99
Daily Fibonacci 38.2% 123.82
Daily Fibonacci 61.8% 123.63
Daily Pivot Point S1 123.57
Daily Pivot Point S2 123.03
Daily Pivot Point S3 122.74
Daily Pivot Point R1 124.39
Daily Pivot Point R2 124.67
Daily Pivot Point R3 125.21

 

 

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