EUR/JPY Technical Analysis: Rejected from above 129.00. Looks to monthly lows near 127.50

The cross is down for yet another session on Monday, returning to the 128.70 region after another failed attempt to consolidate a breakout of 129.00 the figure.
Selling pressure is expected to persist for the time being as long as the low-129.00s barrier continues to cap the upside in the near term.
That said, there is still scope for another visit to November’s low in the 127.50 zone.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 128.76
    Today Daily change: 25 pips
    Today Daily change %: 0.195%
    Today Daily Open: 128.51
Trends:
    Previous Daily SMA20: 128.8
    Previous Daily SMA50: 129.47
    Previous Daily SMA100: 129.4
    Previous Daily SMA200: 129.85
Levels:
    Previous Daily High: 129.33
    Previous Daily Low: 128.42
    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%: 128.76
    Previous Daily Fibonacci 61.8%: 128.98
    Previous Daily Pivot Point S1: 128.17
    Previous Daily Pivot Point S2: 127.84
    Previous Daily Pivot Point S3: 127.26
    Previous Daily Pivot Point R1: 129.09
    Previous Daily Pivot Point R2: 129.67
    Previous Daily Pivot Point R3: 130

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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