- EUR/JPY tumbles further and breaks below the 122.00 support.
- Further south comes in the 200-day SMA around 121.10.
The selling momentum in EUR/JPY picks extra pace on Thursday and forces the cross to break below the key support at 122.00 the figure and print at the same time new 3-month lows.
Extra losses thus remain well on the cards and the door is now wide open to a deeper retracement to, initially, the 200-day SMA in the 121.10/15 band, challenging at the same time the positive outlook on the cross.
Looking at the broader scenario, while above the 200-day SMA at1 121.13, the outlook on EUR/JPY is expected to remain constructive.
EUR/JPY daily chart
|Today last price||121.95|
|Today Daily Change||96|
|Today Daily Change %||-0.48|
|Today daily open||122.54|
|Previous Daily High||123.31|
|Previous Daily Low||122.19|
|Previous Weekly High||125|
|Previous Weekly Low||123.33|
|Previous Monthly High||127.08|
|Previous Monthly Low||122.38|
|Daily Fibonacci 38.2%||122.62|
|Daily Fibonacci 61.8%||122.88|
|Daily Pivot Point S1||122.05|
|Daily Pivot Point S2||121.56|
|Daily Pivot Point S3||120.92|
|Daily Pivot Point R1||123.18|
|Daily Pivot Point R2||123.81|
|Daily Pivot Point R3||124.3|
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