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EUR/JPY Price Analysis: Decent support emerges at 122.87

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  • EUR/JPY is extending the weekly choppiness below 124.00.
  • The key support area around 122.90 holds the downside so far.

EUR/JPY is prolonging the erratic performance so far this week, always below the key barrier at 124.00 the figure and above the key support region around 122.90 (where sits the January tops.

Extra upside momentum remains well on the cards in spite of the ongoing corrective downside and is expected to target the 2020 peaks beyond the 124.00 mark in the short-term horizon. If, instead, sellers extend their momentum, then the leg lower could test the support line, today around 121.20.

As long as EURJPY trades above the 200-day SMA at 119.95, the bullish outlook is expected to remain unchanged.

EUR/JPY daily chart

EUR/JPY Price Analysis: Decent support emerges at 122.87

EUR/JPY

Overview
Today last price 123.27
Today Daily Change 37
Today Daily Change % 0.11
Today daily open 123.13
Trends
Daily SMA20 122.17
Daily SMA50 121.1
Daily SMA100 119.29
Daily SMA200 119.98
Levels
Previous Daily High 123.99
Previous Daily Low 123.02
Previous Weekly High 124.29
Previous Weekly Low 122.2
Previous Monthly High 124.43
Previous Monthly Low 119.32
Daily Fibonacci 38.2% 123.39
Daily Fibonacci 61.8% 123.62
Daily Pivot Point S1 122.77
Daily Pivot Point S2 122.41
Daily Pivot Point S3 121.8
Daily Pivot Point R1 123.74
Daily Pivot Point R2 124.35
Daily Pivot Point R3 124.71

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