EUR/JPY Technical Analysis: Weakness could extend to 127.86

EUR/JPY has resumed the downside today along with the continuation of the selling mood around the European currency.
The cross met resistance at the 10-day SMA in the 129.80 region today, prompting the subsequent drop to the boundaries of the 129.00 neighbourhood, where it is expected to meet initial contention.
In case the selling bias gather extra traction, the next relevant support comes at September’s low at 127.86.
In the meantime, the bearish view should remain in place below the resistance line, today at 132.69.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Last Price: 129.18
    Daily change: -37 pips
    Daily change: -0.286%
    Daily Open: 129.55
Trends:
    Daily SMA20: 131.05
    Daily SMA50: 129.63
    Daily SMA100: 129.5
    Daily SMA200: 130.78
Levels:
    Daily High: 130.18
    Daily Low: 129.17
    Weekly High: 131.26
    Weekly Low: 129.21
    Monthly High: 133.15
    Monthly Low: 127.87
    Daily Fibonacci 38.2%: 129.56
    Daily Fibonacci 61.8%: 129.79
    Daily Pivot Point S1: 129.09
    Daily Pivot Point S2: 128.63
    Daily Pivot Point S3: 128.09
    Daily Pivot Point R1: 130.09
    Daily Pivot Point R2: 130.64
    Daily Pivot Point R3: 131.1

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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