- 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
|Today last price||123.61|
|Today Daily Change||83|
|Today Daily Change %||-0.39|
|Today daily open||124.1|
|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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