EUR/JPY Technical Analysis: The cross remains vulnerable and exposes a visit to 126.60

The cross is trading well on the defensive on Thursday, eroding yesterday’s up move and opening the door for a potential re-test of November’s low in the 126.60 region.
Further south lies August’s low near 124.90, considered the last defence of YTD lows in the 124.60 zone.
On the upside, occasional bullish attempts should meet formidable resistance in the 129.00 neighbourhood, where converge the short-term resistance line, recent peaks and the base of the daily cloud.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 127.73
    Today Daily change: -72 pips
    Today Daily change %: -0.561%
    Today Daily Open: 128.45
Trends:
    Previous Daily SMA20: 128.64
    Previous Daily SMA50: 129.22
    Previous Daily SMA100: 129.31
    Previous Daily SMA200: 129.8
Levels:
    Previous Daily High: 128.52
    Previous Daily Low: 127.78
    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%: 128.24
    Previous Daily Fibonacci 61.8%: 128.06
    Previous Daily Pivot Point S1: 127.98
    Previous Daily Pivot Point S2: 127.51
    Previous Daily Pivot Point S3: 127.24
    Previous Daily Pivot Point R1: 128.72
    Previous Daily Pivot Point R2: 128.99
    Previous Daily Pivot Point R3: 129.46

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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