EUR/JPY Technical Analysis: Upside capped by the resistance line at 126.68

The cross is extending the promising start of the week and is now regaining the mid-124.00s after bottoming out in the 123.85/80 band on Friday.
Initial target on the upside emerges at t he 55-day SMA at 125.23 ahead of the 100-day SMA at 126.35.
While below the short-term resistance line, today at 126.68, EUR/JPY is expected to remain under further downside pressure.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	124.56
Today Daily Change	47
Today Daily Change %	0.14
Today daily open	124.39

Trends
Daily SMA20	125.92
Daily SMA50	125.33
Daily SMA100	126.36
Daily SMA200	127.91

Levels
Previous Daily High	124.82
Previous Daily Low	123.88
Previous Weekly High	126.79
Previous Weekly Low	123.82
Previous Monthly High	126.92
Previous Monthly Low	124.16
Daily Fibonacci 38.2%	124.46
Daily Fibonacci 61.8%	124.24
Daily Pivot Point S1	123.91
Daily Pivot Point S2	123.42
Daily Pivot Point S3	122.97
Daily Pivot Point R1	124.85
Daily Pivot Point R2	125.31
Daily Pivot Point R3	125.79

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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