EUR/JPY Technical Analysis: Bearish view unchanged below 126.00/17

The cross is so far reverting yesterday’s daily pullback and appears well supported in the now new contention area in the 125.00 neighbourhood.
However, the negative stance on EUR/JPY is expected to remain in place as long as the short-term resistance line caps at 126.17.
This area of resistance is reinforced by early February peaks around the 126.00 handle and the cross needs to clear it to allow for a more serious bullish attempt.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 125.32
    Today Daily change: 60 pips
    Today Daily change %: 0.21%
    Today Daily Open: 125.06
Trends:
    Daily SMA20: 124.84
    Daily SMA50: 125.65
    Daily SMA100: 127.44
    Daily SMA200: 128.37
Levels:
    Previous Daily High: 125.54
    Previous Daily Low: 125
    Previous Weekly High: 125.96
    Previous Weekly Low: 124.16
    Previous Monthly High: 127.07
    Previous Monthly Low: 118.84
    Daily Fibonacci 38.2%: 125.2
    Daily Fibonacci 61.8%: 125.33
    Daily Pivot Point S1: 124.85
    Daily Pivot Point S2: 124.65
    Daily Pivot Point S3: 124.3
    Daily Pivot Point R1: 125.4
    Daily Pivot Point R2: 125.75
    Daily Pivot Point R3: 125.95

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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