EUR/JPY Technical Analysis: Bearish view unchanged below support line near 128.00

EUR/JPY has once again tested and failed in the vicinity of 125.00 the figure, coincident with August 2018 low (at 124.91).
A surpass of this area should open the door for a test of late December peaks just above the 127.00 handle. Further consolidation, however, could prompt sellers to step in and drag the cross lower.
On the broader picture, the bearish outlook is expected to prevail while below the 4-month resistance line, today at 127.97.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 124.59
    Today Daily change: -21 pips
    Today Daily change %: -0.168%
    Today Daily Open: 124.8
Trends:
    Previous Daily SMA20: 126.09
    Previous Daily SMA50: 127.66
    Previous Daily SMA100: 128.81
    Previous Daily SMA200: 129.26
Levels:
    Previous Daily High: 125.1
    Previous Daily Low: 124.32
    Previous Weekly High: 127.07
    Previous Weekly Low: 118.84
    Previous Monthly High: 129.3
    Previous Monthly Low: 125.36
    Previous Daily Fibonacci 38.2%: 124.8
    Previous Daily Fibonacci 61.8%: 124.62
    Previous Daily Pivot Point S1: 124.38
    Previous Daily Pivot Point S2: 123.96
    Previous Daily Pivot Point S3: 123.6
    Previous Daily Pivot Point R1: 125.16
    Previous Daily Pivot Point R2: 125.52
    Previous Daily Pivot Point R3: 125.94

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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