EUR/JPY Price Analysis: The 100-day SMA near 123.50 offers support

EUR/JPY’s downside meets support in the mid-123.00s so far.
Immediately to the upside emerges the 125.00 hurdle.

Pablo Piovano FXStreet

EUR/JPY’s corrective downside from Monday’s tops around 125.000 the figure meets decent contention around the 100-day SMA in the 123.50 zone.

If sellers keep pushing south, then the monthly lows in the 123.00 neighbourhood could come under pressure ahead of September’s low at 122.37 (September 28).

In the meantime, the constructive stance in EUR/JPY is seen unchanged while above the 200-day SMA, today at1 121.10.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	123.91
Today Daily Change	61
Today Daily Change %	-0.02
Today daily open	123.94

Trends
Daily SMA20	123.97
Daily SMA50	124.64
Daily SMA100	123.53
Daily SMA200	121.13

Levels
Previous Daily High	124.1
Previous Daily Low	123.65
Previous Weekly High	125.02
Previous Weekly Low	123.02
Previous Monthly High	127.08
Previous Monthly Low	122.38
Daily Fibonacci 38.2%	123.82
Daily Fibonacci 61.8%	123.93
Daily Pivot Point S1	123.7
Daily Pivot Point S2	123.45
Daily Pivot Point S3	123.26
Daily Pivot Point R1	124.14
Daily Pivot Point R2	124.34
Daily Pivot Point R3	124.58

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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