EUR/JPY Technical Analysis: The cross met support just ahead of the 124.00 handle


  • The correction lower in EUR/JPY appears to have met decent contention in the vicinity of 124.00 the figure, where it is now attempting to rebound from. The weekly down move recently picked up extra pace after the cross broke below the 125.64/43 band, where coincide the 10-, 100-, 55- and 21-day SMAs.
  • Despite the onoging bounce off earlier lows, the cross is expected to remain under pressure while another visit to the 123.60 region still stays on the cards in the near term.
  • In the meantime, the cross needs to clear the multi-month resistance line, today ay 126.57, to alleviate downside pressure and shift its focus to 2019 highs in the mid-127.00s seen in early March.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 124.41
Today Daily Change 46
Today Daily Change % 0.07
Today daily open 124.32
 
Trends
Daily SMA20 125.5
Daily SMA50 125.59
Daily SMA100 125.59
Daily SMA200 127.43
Levels
Previous Daily High 125.24
Previous Daily Low 124.13
Previous Weekly High 126.86
Previous Weekly Low 125.64
Previous Monthly High 127.52
Previous Monthly Low 123.64
Daily Fibonacci 38.2% 124.55
Daily Fibonacci 61.8% 124.81
Daily Pivot Point S1 123.89
Daily Pivot Point S2 123.46
Daily Pivot Point S3 122.78
Daily Pivot Point R1 124.99
Daily Pivot Point R2 125.67
Daily Pivot Point R3 126.1

 

 

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