EUR/JPY Snared at 129.00 following mid-week recovery

EUR/JPY continues to grind it out in the middle of consolidation.
Swings in general market sentiment continue to lead the broader markets nowhere.

Joshua Gibson FXStreet

EUR/JPY is bumping into the 129.00 major level ahead of Thursday's European markets, and holding towards the upper bound of recent consolidation.

The Euro-Yen pairing has found itself squeezed into the middle for the better part of two months, cycling between 130.00 and 127.00 as the EUR keeps finding reasons to be bid up, but not enough to spark a meaningful bullish recovery. Risk-off runs continue to see markets pile into the safe-haven Yen at regular intervals on the other side of the coin, and as the major G20 marketspace struggles to decide whether or not its confident, or afraid of trade wars and slowing growth.

On the EUR's docket for Thursday will be Germany's CPI data dump, due early at 07:00 GMT and the broad array of figures are expected to hold steady at their previous readings, and the key focus will be annualized CPI for November, forecast at 2.3%.

EUR/JPY Technical Levels

EUR/JPY

Overview:
    Today Last Price: 128.98
    Today Daily change: 28 pips
    Today Daily change %: 0.218%
    Today Daily Open: 128.7
Trends:
    Previous Daily SMA20: 128.6
    Previous Daily SMA50: 128.9
    Previous Daily SMA100: 129.21
    Previous Daily SMA200: 129.75
Levels:
    Previous Daily High: 128.88
    Previous Daily Low: 128.29
    Previous Weekly High: 129.3
    Previous Weekly Low: 127.61
    Previous Monthly High: 130.16
    Previous Monthly Low: 127.5
    Previous Daily Fibonacci 38.2%: 128.65
    Previous Daily Fibonacci 61.8%: 128.52
    Previous Daily Pivot Point S1: 128.37
    Previous Daily Pivot Point S2: 128.03
    Previous Daily Pivot Point S3: 127.78
    Previous Daily Pivot Point R1: 128.96
    Previous Daily Pivot Point R2: 129.21
    Previous Daily Pivot Point R3: 129.55

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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