EUR/JPY Technical Analysis: Bear flag seen on the hourly chart

The EUR/JPY pair is currently trading at 124.50, having hit a session high of 124.79 earlier today and could suffer a deeper drop if key support at 124.41 is breached. 

That would confirm a flag breakdown on the hourly chart - a bearish continuation pattern, which usually ends up accelerating the preceding bearish move. 

A break below 124.41, therefore, could yield a re-test of the recent low of 123.82. Validating that bearish view is the 14-hour relative strength index (RSI) of 48.00. 

Hourly chart

Trend: Bearish below 124.41


Today last price 124.49
Today Daily Change 10 pips
Today Daily Change % 0.08
Today daily open 124.39
Daily SMA20 125.92
Daily SMA50 125.33
Daily SMA100 126.36
Daily SMA200 127.91
Previous Daily High 124.82
Previous Daily Low 123.88
Previous Weekly High 126.79
Previous Weekly Low 123.82
Previous Monthly High 126.92
Previous Monthly Low 124.16
Daily Fibonacci 38.2% 124.46
Daily Fibonacci 61.8% 124.24
Daily Pivot Point S1 123.91
Daily Pivot Point S2 123.42
Daily Pivot Point S3 122.97
Daily Pivot Point R1 124.85
Daily Pivot Point R2 125.31
Daily Pivot Point R3 125.79


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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD remains depressed but off daily lows

The EUR/USD pair is recovering from a daily low of 1.1216, although holding in negative territory for the day. US preliminary Michigan Consumer Sentiment Index improved by less-than-anticipated in July, coming in at 98.4 vs. the 98.5 expected.


GBP/USD trading marginally lower daily basis but above 1.2500

The Pound gave back some of its Thursday’s gain on dollar’s relief. The GBP/USD pair broke a daily descendant trend line coming from June’s high and holds above it, leaving little room for sellers to act.


USD/JPY: bears pausing, still in control

Japanese National Inflation steady at 0.7%YoY in June. US Michigan Consumer Sentiment Index expected at 98.5 in July. USD/JPY corrective advance falling short of signaling an interim bottom in place.


Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News

Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more