EUR/JPY Price Analysis: Initial support lies at 124.44
- EUR/JPY briefly tested the area above the 126.00 mark on Wednesday.
- Occasional pullbacks should meet support near 124.40 (weekly lows).
Following last week’s 2020 tops near 126.80, EUR/JPY has embarked in a corrective downside which met quite decent contention in the 124.50/45 band (August 21).
The subsequent rebound managed to advance past 126.00 the figure earlier on Wednesday, although the move lacked follow through and sparked a knee-jerk that carries the potential to extend, initially, to recent lows near 124.40.
The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day SMA at 120.42.
EUR/JPY daily chart
EUR/JPY
| OVERVIEW | |
|---|---|
| Today last price | 125.53 |
| Today Daily Change | 73 |
| Today Daily Change % | -0.30 |
| Today daily open | 125.91 |
| TRENDS | |
|---|---|
| Daily SMA20 | 125.19 |
| Daily SMA50 | 123.01 |
| Daily SMA100 | 120.59 |
| Daily SMA200 | 120.45 |
| LEVELS | |
|---|---|
| Previous Daily High | 126.03 |
| Previous Daily Low | 124.92 |
| Previous Weekly High | 126.46 |
| Previous Weekly Low | 124.44 |
| Previous Monthly High | 125.21 |
| Previous Monthly Low | 120.26 |
| Daily Fibonacci 38.2% | 125.61 |
| Daily Fibonacci 61.8% | 125.35 |
| Daily Pivot Point S1 | 125.21 |
| Daily Pivot Point S2 | 124.51 |
| Daily Pivot Point S3 | 124.1 |
| Daily Pivot Point R1 | 126.32 |
| Daily Pivot Point R2 | 126.73 |
| Daily Pivot Point R3 | 127.42 |
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