EUR/JPY Technical Analysis: Bouncing up from ascending 5-day MA

  • EUR/JPY has bounced up from the ascending 5-day MA of 126.32 but is yet to beat the resistance at 126.79 (Monday's high).
  • A close above that would solidify the channel breakout confirmed on Friday and open up upside toward 127.50 (March high).
  • Supporting that bullish case is the upward sloping 5- and 10-day MAs and the bullish crossover of the 10- and 50-day MA. The 14-day relative strength index (RSI) is also reporting bullish conditions with an above-50 print.
  • The cross, however, could fall back to 10-day MA, currently at 125.79, if China's industrial production, Q1 GDP and retail sales figure prints well below estimates, renewing fears of a deeper economic slowdown in the world's second-biggest economy.

Daily chart

Trend: Bullish


Today last price 126.55
Today Daily Change 0.18
Today Daily Change % 0.14
Today daily open 126.37
Daily SMA20 125.25
Daily SMA50 125.48
Daily SMA100 125.8
Daily SMA200 127.63
Previous Daily High 126.69
Previous Daily Low 126.2
Previous Weekly High 126.78
Previous Weekly Low 124.78
Previous Monthly High 127.52
Previous Monthly Low 123.64
Daily Fibonacci 38.2% 126.38
Daily Fibonacci 61.8% 126.5
Daily Pivot Point S1 126.15
Daily Pivot Point S2 125.92
Daily Pivot Point S3 125.65
Daily Pivot Point R1 126.64
Daily Pivot Point R2 126.91
Daily Pivot Point R3 127.14



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