EUR/JPY Technical Analysis: Further rangebound seen near term

The cross is extending the down move following Friday’s bearish ‘outside day’, although it is so far underpinned by the 4-month support line, today at 127.52.
Further downside should initially test November’s low at 127.50 ahead of October’s low at 126.62.
On the way up, recent tops beyond 129.00 the figure offer immediate resistance, coincident with the base of the daily cloud.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 128.51
    Today Daily change: -44 pips
    Today Daily change %: -0.341%
    Today Daily Open: 128.95
Trends:
    Previous Daily SMA20: 128.79
    Previous Daily SMA50: 129.4
    Previous Daily SMA100: 129.37
    Previous Daily SMA200: 129.83
Levels:
    Previous Daily High: 129.3
    Previous Daily Low: 128.54
    Previous Weekly High: 129.33
    Previous Weekly Low: 127.92
    Previous Monthly High: 130.16
    Previous Monthly Low: 127.5
    Previous Daily Fibonacci 38.2%: 128.83
    Previous Daily Fibonacci 61.8%: 129.01
    Previous Daily Pivot Point S1: 128.56
    Previous Daily Pivot Point S2: 128.17
    Previous Daily Pivot Point S3: 127.8
    Previous Daily Pivot Point R1: 129.32
    Previous Daily Pivot Point R2: 129.69
    Previous Daily Pivot Point R3: 130.07

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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