EUR/JPY Price Analysis: Rising odds of a bearish acceleration under 126.00

  • EUR/JPY dropped to 125.91, hitting the lowest level in four weeks.
  • Key support area under pressure: close under 125.90 would point to sharper correction.

The EUR/JPY continues to correct lower after hitting multi-year highs last week at 127.50. It is hovering around 126.00, testing a critical support area between 126.00 and 125.80.

Technical indicators at the moment favor the downside. Key daily moving averages are turning south and also momentum indicators. EUR/JPY has not yet confirmed the break. Current levels warrant some volatility ahead that includes the possibility of bullish reversals.

A close below 125.80 would target the 124.90/125.00 area and then 124.20. On the upside, a recovery back above 126.50 would keep the cross in the current range, alleviating the bearish pressure. A weekly close above 127.15 would signal a resumption of the dominant bullish trend.

EUR/JPY daily chart



Today last price 125.94
Today Daily Change -0.32
Today Daily Change % -0.25
Today daily open 126.26
Daily SMA20 126.53
Daily SMA50 125.47
Daily SMA100 124.8
Daily SMA200 122.73
Previous Daily High 126.74
Previous Daily Low 126.22
Previous Weekly High 127.49
Previous Weekly Low 126.05
Previous Monthly High 127.24
Previous Monthly Low 124.38
Daily Fibonacci 38.2% 126.42
Daily Fibonacci 61.8% 126.54
Daily Pivot Point S1 126.07
Daily Pivot Point S2 125.88
Daily Pivot Point S3 125.54
Daily Pivot Point R1 126.6
Daily Pivot Point R2 126.93
Daily Pivot Point R3 127.12



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hits fresh one-month low amid souring market mood

EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points. 


GBP/USD retreats toward 1.36 amid fresh dollar strength

GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown. 


Gold extends sideways grind near $1,850

The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundamental drivers on Friday. As of writing, the pair was up 0.15% on a daily basis at $1,849.

Gold news

Forex Today: Markets “sell the fact” on Biden's stimulus, dollar rises, retail sales eyed

Markets are on the back foot after Biden hinted about tax hikes while introducing stimulus. The safe-haven dollar is edging higher despite Powell's pledge to keep monetary policy accommodative. 

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News