EUR/JPY Price Analysis: Rising bets for a test of 2020 highs


  • EUR/JPY has managed to break above 124.00 during early trade.
  • The 2020 peaks near 124.50 emerge as the next hurdle of note.

EUR/JPY’s recovery has faltered once again ahead of the 2020 highs, running out of steam in the 124.30 region earlier in the session.

Extra upside momentum remains well on the cards in spite of the ongoing corrective downside and is expected to re-visit the 2020 peaks near 124.50 in the short-term horizon. If sellers regain the upper hand, then the leg lower could test the short-term support line, today around 121.35.

As long as EURJPY trades above the 200-day SMA at 119.98, the bullish outlook is expected to remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 124.01
Today Daily Change 47
Today Daily Change % -0.05
Today daily open 124.07
 
Trends
Daily SMA20 122.48
Daily SMA50 121.34
Daily SMA100 119.42
Daily SMA200 120.01
 
Levels
Previous Daily High 124.2
Previous Daily Low 123.34
Previous Weekly High 124.29
Previous Weekly Low 122.2
Previous Monthly High 124.43
Previous Monthly Low 119.32
Daily Fibonacci 38.2% 123.87
Daily Fibonacci 61.8% 123.67
Daily Pivot Point S1 123.54
Daily Pivot Point S2 123.01
Daily Pivot Point S3 122.68
Daily Pivot Point R1 124.4
Daily Pivot Point R2 124.73
Daily Pivot Point R3 125.26

 

 

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