EUR/JPY Price Analysis: Rising bets for a move to the 200-day SMA


  • 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

EUR/JPY

Overview
Today last price 121.95
Today Daily Change 96
Today Daily Change % -0.48
Today daily open 122.54
 
Trends
Daily SMA20 123.97
Daily SMA50 124.45
Daily SMA100 123.56
Daily SMA200 121.16
 
Levels
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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