EUR/JPY is currently trading at 126.28, representing marginal gains on the day, having created a doji candle on Friday, signaling indecision in the market place.
Notably, doji has appeared after a four-day winning streak. So, that candle largely represents bullish indecision. The cross, therefore, could see a downside break of the sideways channel established on the hourly chart in the second half of the last week.
A range breakdown, if confirmed, would allow a drop to 125.73 (200-hour moving average).
Hourly chart
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Trend: Bearish
EUR/JPY
Overview:
Today Last Price: 126.28
Today Daily change: 4 pips
Today Daily change %: 0.03
Today Daily Open: 126.25
Trends:
Daily SMA20: 125.9
Daily SMA50: 125.2
Daily SMA100: 126.53
Daily SMA200: 128.01
Levels:
Previous Daily High: 126.58
Previous Daily Low: 126.12
Previous Weekly High: 126.58
Previous Weekly Low: 124.48
Previous Monthly High: 126.92
Previous Monthly Low: 124.16
Daily Fibonacci 38.2%: 126.29
Daily Fibonacci 61.8%: 126.4
Daily Pivot Point S1: 126.05
Daily Pivot Point S2: 125.85
Daily Pivot Point S3: 125.58
Daily Pivot Point R1: 126.52
Daily Pivot Point R2: 126.78
Daily Pivot Point R3: 126.98
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