EUR/JPY Technical Analysis: Further consolidation likely in the near term

The cross is prolonging the consolidative mood below 123.00 the figure amidst a fragile sentiment in the risk-associated space.
The next target on the upside emerges at the 123.60 region (May 10 high) ahead of the 21-day SMA at 123.78. .
In the meantime, a visit to recent lows in the 122.00 neighbourhood remains well on the cards in the short-term horizon while below the critical multi-month resistance line, today at 125.83.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	122.75
Today Daily Change	42
Today Daily Change %	-0.12
Today daily open	122.9

Trends
Daily SMA20	123.86
Daily SMA50	124.86
Daily SMA100	124.95
Daily SMA200	126.96

Levels
Previous Daily High	123.19
Previous Daily Low	122.53
Previous Weekly High	123.44
Previous Weekly Low	122.07
Previous Monthly High	126.86
Previous Monthly Low	124.04
Daily Fibonacci 38.2%	122.78
Daily Fibonacci 61.8%	122.94
Daily Pivot Point S1	122.56
Daily Pivot Point S2	122.21
Daily Pivot Point S3	121.89
Daily Pivot Point R1	123.22
Daily Pivot Point R2	123.54
Daily Pivot Point R3	123.88

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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