EUR/JPY Price Analysis: Upside looks capped around 127.50

EUR/JPY returns to the sub-127.00 area on Monday.
Recent tops in the mid-127.00s offer initial resistance.

Pablo Piovano FXStreet

EUR/JPY extends the rejection from recent peaks in the 127.50 region and slips back to the area below 127.00 the figure at the beginning of the week.

If the selling impulse accelerates, then the next region of contention emerges in the 126.00 neighbourhood, the lower bound of the recent multi-week consolidative theme.

Looking at the broader picture, while above the 200-day SMA at 122.52 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	126.68
Today Daily Change	48
Today Daily Change %	-0.31
Today daily open	127.08

Trends
Daily SMA20	126.48
Daily SMA50	125.22
Daily SMA100	124.77
Daily SMA200	122.6

Levels
Previous Daily High	127.46
Previous Daily Low	126.82
Previous Weekly High	127.49
Previous Weekly Low	126.05
Previous Monthly High	127.24
Previous Monthly Low	124.38
Daily Fibonacci 38.2%	127.06
Daily Fibonacci 61.8%	127.22
Daily Pivot Point S1	126.78
Daily Pivot Point S2	126.47
Daily Pivot Point S3	126.13
Daily Pivot Point R1	127.43
Daily Pivot Point R2	127.77
Daily Pivot Point R3	128.08

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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